- CRO/BTC market has now been making attempts to push northwards.
- The sudden spike may be a signal to expect more bulls’ potentials as long as the B0.000005 price point isn’t broken southwards.
CRO/BTC Medium-term Trend: Ranging
- Supply levels: B0.000009, B0.00001, B0.000011
- Demand levels: B0.000004, B0.000003, B0.000002
Between June 22 and until about formation of two 4-hour candlesticks of early trading sessions today, the CRO/USD market moved notably in a range. The third emergence of the 4-hour candlestick has come up with a violent spike that broke out of the range spot to average B0.000009 mark.
Not too long, the pair made a quick correction to now hover around upper range spots depicted at B0.000007 and B0.000006 price levels. The Bollinger Bands are located underneath the 50-day SMA. But, the Bollinger Upper Band has touched the SMA indicator from below. The Stochastic Oscillators have crossed to point north within ranges 40 and 20.
The crypto-market has now had a selling wall between the B0.000009 and B0.000007 points. Therefore, the bulls are not expected to push the market line beyond the B0.00009 mark in a near trading time of the CRO/BTC market.
CRO/USD Short-term Trend: Ranging
A spike that occurred earlier in the CRO/BTC market in the short run has led it into entering upper range zones afterward. Yesterday’s trading sessions witnessed its series of ranging market movements around lower zones as compared with the present.
The crypto-market has now been fluctuating around B0.000007 and B0.000006 price lines. The Bollinger Bands have opened wider around the B0.000007 and B0.000005 marks with the 50-day SMA located a bit under the Bollinger Middle Band’s trend-line. The Stochastic Oscillators have conjoined hairs to move along range 40.
There are indications that the bulls in the market of CRO/BTC are likely to gain the market’s advantage in the short-term run. Therefore, the bears may not have the possibility of pressing down the market retest a low point at B0.000005 mark.
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