CRO Price
CRO Price Analysis: CRO at its long term support after breaking from the descending triangle
- CRO Token Price has been on a downward trend post breakout from the descending triangle pattern.
- The token is currently testing its long-term support which is a crucial zone for price action
- The coin has been receiving good volumes over the last few days
CRO Token Price was on a descending triangle pattern until earlier this month. The token broke the support zone of the descending triangle at $ 0.47 and has taken support at its next support level of $ 0.33 at the moment. The volumes for the token have come down significantly. The coin is however still bound by the resistance trendline of the descending triangle pattern. The Token shows under-bought signals on the stochastic charts. The coin is looking at a possible reversal at the crucial long-term support zone. It remains to be seen how the coin reacts over the next few days.
CRO Token Price on the hourly charts was trading in a parallel trend zone before making an abrupt and shart fall to the long-term support level of $ 0.33. The coin is forming a consolidation range at the $ 0.33 level. The coin is testing the support level as this article is being written. The volumes over the last couple of days have been impressive on the hourly chart indicating increasing trader interest as the coin is trading at a crucial prize zone. The coin’s behavior over the next few hours will determine its further course of direction over the next few trading sessions.
Conclusion:
The Coin has been on a downward trend since the end of 2021. The coin broke down from the descending triangle pattern and has taken support at its long-term support zone. The coin is consolidating on the hourly chart with increasing volumes indicating a probable change in trends.
