Sellers dominate CRO market
CRO/USD Price Analysis September 03
The breakdown of the support level at $0.11 may reduce the price to $0.10 and $0.09 support levels. Inability to break down the support level of $0.11 may increase CRO towards the resistance levels at $0.12, $0.13, and $0.14..
Resistance zone: $0.12, $0.13, $0.14
Support zone: $0.11, $0.10, $0.09
CRO/USD Price Long-term Trend: Bullish
The bearish trend that started on August 15 continues on the daily time frame. Bullish trend terminated at $0.14 zone. The bullish momentum became weak and the price consolidate for few days. The bearish pressure has turned the former support levels of $0.14, $0.13 and $0.12 to resistance levels. The price is ranging within $0.12 and $0.11 at the moment.
At present, the daily bearish candles formed below the two EMAs is an indication that the bearish movement may continue. The coin is struggling to break down the support level of $0.11. The 9-day EMA is below the 21-day EMA and the coin is trading below it. The break down of the support level at $0.11 may reduce the price to $0.10 and $0.09 support levels. Inability to break down the support level of $0.11 may increase the price towards the resistance levels at $0.12, $0.13, and $0.14. Meanwhile, the Relative Strength Index period 14 is bending down at 37 levels indicate a sell signal.
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CRO/USD Medium-term Trend: Bullish, 10000X Returns Coming on TAMA
CRO is also bearish on the 4-Hour chart. CRO price declines to the support zone of $0.11 last week but the bears were unable to push down the coin further due to the low momentum coupled with the strong support zone.
The price pulled back when the bulls interrupted the bearish trend. The resistance level of $0.12 was unable to be penetrated upside. The price is trading around the 21-day EMA and the 50-day EMA with the two EMAs interlocked to each other. The relative strength index period 14 is at 43 levels with the signal line point up to indicate an increase of CRO price.
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