CROUSD trade ideas
Crypto com chain tokenCertain accumulation can be identified by looking at trading volume during the last couple months. 80% move is almost inevitable. Further action is more unpredictable.
Considering that this is a token of a major crypto platform which provides interest on assets, this might be quite a major investment, as its market cap is at 2.2bln.
Crypto.com Coin Eyeing $1As per the Elliott Wave analysis, the Crypto.com Coin (CRO) shows an impulsive price structure that calls for higher prices. CRO has gained more than 57% in the past 7 days, breaking above the mid figure $0.50. CRO is now looking ahead to eye another significant milestone – the $1.00 mark.
Elliott Wave Analysis
The Elliott Wave analysis suggests that the rally from the 3 November low can unfold as a 5 impulsive wave structure. Up from 3 November low, wave 1 ended at the $0.42 high. Then, the coin extended lower in wave 2 towards the $0.31 low, and from there, it bounced higher in wave 3, which is currently still in progress.
Wave 3 can be broken down into 5 sub-waves, but the move towards the current high of $0.69 only unfolded in 3 waves. Wave 4 seems in progress now, which should end above the support level of $0.42. From there, we would need one more leg higher to hopefully complete wave 3 of a higher degree. Once this is completed, there is still more upside to come in wave 4 and wave 5 to fully complete the entire 5 wave sequence.
CRO next target incoming! This week will be another big week for the CRO token.
When it will hit the juction of the past ATH and the uptrend line, the movement after that will indicate us if we are still going up and challenging the ATH or stabilizing back to a lower support.
One thing is for sure this is still an amazing long term entry point. I would defenetly wait more toward the 0.45-0.40 range to buy back in thought!