https://ift.tt/fIDHtCh (CROUSD) Price Is Advancing To Break Up $0.493 Level – Cryptovibes.com – Daily Cryptocurrency and FX News

CRO/USD Price Analysis: March 26

The breaking up of the confluence at the upper trend line of the triangle may push up the price to penetrate $0.493 and the price will target the resistance levels at $0.667 and $0.776. Inability to break up the confluence at $0.493 level may decrease the price towards the support levels at $0.325, $0.244, and $0.200

CRO/USD Market:

Key Levels:

Resistance zone: $0.493, $0.667, $0.776

Support zone: $0.325, $0.244, $0.200

CRO/USD Price Long-term Trend: Bullish

The bearish trend that started on November 26 was terminated at the support zone of $0.325. In other words, CRO/USD bottomed at $0.325 on November 26. The full presence of the bulls is noticed when a strong bullish engulfing candle is formed. The price was advancing towards the resistance level of $0.493. The price action has formed a symmetrical triangle on the daily chart.

At present, the daily bullish candles formed inside the ascending triangle is an indication that the bullish movement may commence. The coin is struggling to break up the upper trend line of the triangle. CROUSD is trading above the 21-day EMA and 9-day EMA. The breaking up of the confluence at the upper trend line of the triangle may push up the price to penetrate $0.493 and the price will target the resistance levels at $0.667 and $0.776. Inability to break up the confluence at $0.493 level may decrease the price towards the support levels at $0.325, $0.244, and $0.200. Meanwhile, the Relative Strength Index period 14 is raising at 60 levels indicate a buy signal.

CRO/USD Medium-term Trend: Ranging

CRO is also on the ranging movement in 4-Hour chart. Cronos price declined to the support zone of $0.25 two weeks ago, but the bears were unable to push down the coin further due to the low momentum coupled with the strong support zone.

The price reverses when the bulls interrupted the bearish trend. The resistance level of $0.150 was equally defended by the bears. The scenario led to ranging of the market within $0.493 and $0.325.  The price is trading around the 21-day EMA and the 9-day EMA with the two EMAs interlocked to each other. The relative strength index period 14 is at 59 levels with the signal line point down to indicate sell signal.