CRO has broken out of a descending wedge pattern on the 4H chart after several weeks of consolidation. Historically, this setup often signals the end of a corrective phase and the beginning of a bullish continuation.
Key observations:
The breakout candle closed above the wedge trendline with increasing momentum.
Price is reclaiming the 0.260–0.270 support zone, which was previously resistance.
Strong bullish engulfing candle adds confirmation of demand stepping in.
If momentum sustains, CRO could target the upper resistance cluster near 0.328 – 0.385.
Entry zone: 0.260 – 0.270
Stop loss: Below 0.240
Targets:
T1: 0.294
T2: 0.310
T3: 0.328
Extended: 0.371 – 0.386
Insights: Holding above 0.265–0.270 is critical. Failure to hold could drag price back toward 0.245 before any continuation.
DYOR | Not Financial Advice
Key observations:
The breakout candle closed above the wedge trendline with increasing momentum.
Price is reclaiming the 0.260–0.270 support zone, which was previously resistance.
Strong bullish engulfing candle adds confirmation of demand stepping in.
If momentum sustains, CRO could target the upper resistance cluster near 0.328 – 0.385.
Entry zone: 0.260 – 0.270
Stop loss: Below 0.240
Targets:
T1: 0.294
T2: 0.310
T3: 0.328
Extended: 0.371 – 0.386
Insights: Holding above 0.265–0.270 is critical. Failure to hold could drag price back toward 0.245 before any continuation.
DYOR | Not Financial Advice
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.