Cronos has returned to retest its old range, with confluence stacking at support levels. This gives bulls a strong foundation to attempt a reversal higher.
Key Technical Points:
- Retesting range high as new support.
- Confluence with 0.618 Fibonacci, VWAP, and moving averages.
- Upside potential toward $0.48 if support holds.
CRO recently faced rejection at the value area high, triggering a pullback into its prior trading range. However, this zone is now acting as a support base, with multiple technical indicators in alignment.
The 0.618 Fibonacci retracement, VWAP, and key moving averages all coincide at this level, forming a dense confluence area. Such overlaps often act as springboards for bullish reversals, provided demand steps in.
If buyers manage to defend the base, CRO could rotate higher toward $0.48. This would confirm a healthy retest of support and reestablish the bullish continuation structure.
What to Expect in the Coming Price Action:
As long as CRO holds above its reclaimed range, the bias remains bullish. A sustained reaction here could send price toward $0.48, reinforcing the broader bullish continuation setup.
Key Technical Points:
- Retesting range high as new support.
- Confluence with 0.618 Fibonacci, VWAP, and moving averages.
- Upside potential toward $0.48 if support holds.
CRO recently faced rejection at the value area high, triggering a pullback into its prior trading range. However, this zone is now acting as a support base, with multiple technical indicators in alignment.
The 0.618 Fibonacci retracement, VWAP, and key moving averages all coincide at this level, forming a dense confluence area. Such overlaps often act as springboards for bullish reversals, provided demand steps in.
If buyers manage to defend the base, CRO could rotate higher toward $0.48. This would confirm a healthy retest of support and reestablish the bullish continuation structure.
What to Expect in the Coming Price Action:
As long as CRO holds above its reclaimed range, the bias remains bullish. A sustained reaction here could send price toward $0.48, reinforcing the broader bullish continuation setup.
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.