CRO Uptrend Remains Viable, Faces Rejection at $0.130 High

Jun 23, 2020 at 10:11 // News
Coin Idol
CRO faces rejection at $0.130 high

The coin has been making impressive bullish runs as the uptrend remains intact. The crypto has reached the overbought region of the market as the coin continues its upward move.

When the market reaches the overbought region, sellers emerge to push prices down. Nonetheless, CRO has reached a high of $0.127 after an initial drop to $0.100. Sellers have earlier pushed prices to $0.100 low. 

Today, the coin is retracing after price reached another overbought region. At the moment, the $0.127 high is facing rejection as the coin retraces. The uptrend will resume if price retraces and finds support above the 12-day EMA. On the upside, when the bulls clear the $0.127 resistance, the crypto will rise to $0.135 high. In the meantime, the coin is still retracing to the 12-day EMA. indicator reading 

Since May 20, has been trading in the overbought region. The upward move was accelerated because the bulls broke the resistance line of the ascending channel. Presently, the crypto is above 80 % range of the daily stochastic. It indicates that the market is in bullish momentum. Also, the coin has reached the overbought region of the market.

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Key Resistance Zones: $0.10, $0.11, $0.12

Key Support Zones: $0.040, $0.030, $0.020

What Is the Next Move for is exceptional among the other altcoins. The coin's upward move will continue as long as the price is above the EMAs. The 12-day EMA and the 26-day EMA are sloping upward. It indicates that CRO is in a smooth uptrend.

Disclaimer.  This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.

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