CRO to Rise with Brief Dips - Technical Analysis
Past Performance
The opening price of CRO was $0.151 on March 4, 2021. As of March 11, 2021, the closing price was $0.183. In the past week, the price has soared by approximately 21%. In the past 24 hours, CRO is trading between $0.171-$0.2.
Day-Ahead and Tomorrow
Currently, CRO is trading at $0.198. The price has risen from the opening price of $0.184. Thus, the market is an uptick.
The OBV indicator is upward sloping. Thus, the demand for CRO is high. High buying activity will push the price upwards. Hence, we can expect the price to go up.
The MACD and signal lines have converged. They are positive but too close to the zero line. Thus, they may turn negative soon. Hence, the market momentum looks bearish. We can expect a price pullback. This can be a great time to accumulate.
Presently, the RSI indicator is at 58%. It faced rejection at 60% and spiraled downwards. However, the buying pressures are still high. Hence, the price will rise further even though brief price dips cannot be ruled out.
CRO Price Analysis
At the time of writing this analysis, CRO is trading above the first Fibonacci pivot resistance level of $0.196. By the end of the day, we can expect the price to break out of the subsequent resistance levels of $0.202 and $0.213 respectively. Watch the next four hours for sudden movements in price.
As the oscillators have pointed towards a price drop, the CRO price may test the 23.6% FIB retracement level of $0.193, in some time. However, as the market is overall positive, we can expect the price to break out of this level. The bull-run is strong enough to continue tomorrow as well.