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The Cronos coin price action shows the bullish dominance sustaining at the psychological mark of $0.10, resulting in a price jump of 16.4%. The recovery rally moves at a high momentum and challenges the 100-day ema, which may shortly provide a Bullish entry opportunity for sideline traders. So, should you consider taking a Bullish trade?
Ključne točke:
- $11.5 resistance breakout should assist the buyer in charging at $12.633 resistance
- Dnevni nagib RSI pokazuje evidentnu bikovsku divergenciju
- The intraday trading volume in Cronos coin is $167.2 Million, indicating an 81.26% gain.
Izvor- Tradingview
On September 22nd, the Cronos coin rebounded from the $0.1 psychological support with a bullish engulfing candle. This was a second reversal from the $0.1 mark during the last four months, valdating it as a strong accumulation zone.
Furthermore, concerning these two bullish reversals, the daily time frame chart shows a formation of uzorak sa dvostrukim dnom. This bullish reversal pattern offers a recovery set-up and a direction bullish rally if the price breach the neckline resistance.
As of now, the Cronos coin prices display the bullish engulfing candle crossing above the 20-day EMA to challenge the 50-day EMA with a spike in trading volume. Therefore, the price analysis reflects a remarkable increase in buying pressure.
Along with 20-day EMA, the bull-run breached the local resistance of $0.111, which could now act as potential support. With this new launchpad and sustained buying, the coin prices could rally 35.5% higher to $0.158-$0.163 neckline resistance. Additionally, the optimistic traders can expect a breakout of this swing high breakout, prolonging the potential rally to the $0.20 mark.
Conversely, a bullish failure to cross above the 50-day EMA will endanger the buyers at the psychological mark of $0.10.
Tehnički indikator
EMA: the 20-and-50-day EMAs act as dynamic resistance to restrict bullish growth.
RSI indikator: A bullish divergence in daily-RSI slope bolsters the possibility of a double bottom pattern and recovery theory.
Cronos Coin Price Intraday Levels
- Spot stopa: 0.117 dolara
- Trend: Bik
- Isparljivost: niska
- Nivoi otpora - 0.126 dolara i 0.14 dolara
- Nivoi podrške - $0.11 i $0.1
Predstavljeni sadržaj može sadržavati lično mišljenje autora i podložan je tržišnim uslovima. Istražite tržište prije nego što investirate u kriptovalute. Autor ili publikacija ne snosi nikakvu odgovornost za vaš lični finansijski gubitak.
Source: https://coingape.com/markets/cronos-coin-chart-hints-the-potential-swing-up-could-revisit-0-158/