- Cronos has a bullish market structure on the Daily Chart and tried to turn $ 0.1 to support.
- The strong purchasing pressure in addition to the price dropout meant that further profit was probably in the coming weeks.
Cronos [CRO]Previously known as Crypto.com Coin, saw strong profits for the past 36 hours. It had risen by 27.7% on the press, but there were signs of a withdrawal. This small price dip is expected to be around 5% in size.
The 1-day price promotion for Cronos was strong Bullish. With rising purchasing pressure, it seemed likely that the CRO Bulls could initiate a recovery.
Cronos: Second Bullish Market Structure Exemption
Source: CRO/USDT on TradingView
The two daily market structure breaks were marked in white. Moreover, the price above the local resistance level was $ 0.0975 and tried to scale the $ 0.105 resistance.
The OBV saw a strong increase because the trade volume was high in recent days. The outbreak outside the local resistance on the back of the high volume was an encouraging sight for the bulls.
The 1-day RSI also rose past neutral 50 to show a strong bullish momentum.
If the current demand can be maintained, Cronos has a good chance of initiating a higher rally. But if it sinks under $ 0.1 and $ 0.0975 in the coming days, the recent price buttock would turn out to be a fake out.
The financing percentage was steep negative and was at -0.3% at the time of the press. It last fell to a negative area on 6 March and fell to -0.05%. It happened with the local price of $ 0.093.
With short sellers who print the derivatives market, the recent increase can mark the local top again. However, a local top does not detract from the bullish market structure on the daily graph.
The 1 -week liquidation Heatmap noted two magnetic zones of interest for $ 0.098 and $ 0.118.
The negative financing speed in combination with overbought conditions in the lower timetables meant that a CRO price dip to $ 0.098 was possible.
That is why swing traders can look to buy token from a retest of the nearby demand zone, aimed at the liquidity cluster of $ 0.118- $ 0.12.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer