#CRONOS Technical Analysis
Support and Resistance: Nearest Support Zone is $0.120, then $0.100. The nearest Resistance Zone is $0.170, then $0.200.
Trends are mixed. It’s consolidating in a Falling Wedge pattern. We wait for a breakout, with upside potential to $0.16 thereafter.
Patterns: Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher.
Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order.
Trend: Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Bearish ( MACD Line is below MACD Signal Line, and RSI is below 45).
