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CRO analysis – the market is in correction, but achieves a profit of 11% in just a few hours

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CRO is likely the most bullish highcap coin for today. Did not react to the last slump at all and, on the contrary, made a profit. In just a few hours the price managed to make a profit of 13,6%, and just in times when the market fell by 10% downwards. Has the market reached the end of the correction structure? Coin at the time of writing trades for $ 0.7932 and growth doesn’t seem to end there. Despite a very nice pump, however, it is bold to say that the whole correction structure is definitively over. It can easily happen that the price will create a local maximum lower and will continue either in the correction or in the longer-term sideway structure.

CRO / USD 4HCRO / USD 4H. Source: TradingView

CRO as one of the few profitable

CRO will be out soon face resistance on the MA21 indicator. It is currently located at $ 0.797. It is necessary to expect an approaching local maximum. The price will definitely not go on new ATH immediately. In addition, the price did not create another local minimum, so we do not know if they will rise. That’s why he’s in place wait for the creation of another minimum.

Volumes are clearly on the side bulls and during the correction they did not record nearly the same numbers as during the growth. This is not the case with the current growing trend either. In the coming days, another minimum will form, which, however, must be growing, and only then can we consider reversal if the price exceeds the maximum between them.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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