VIP MARKET UPDATE: $CRO
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$CRO is trading around the 0.0693 area, grinding along the ascending trendline support that has been holding price up since the beginning of April. The structure has been largely range bound, with a notable spike to the 0.0720 highs that got fully rejected and brought price right back into the middle of the range. Price is now pressing against the trendline again, and the repeated tests of this level are slowly weakening it.
As long as CRO stays below the 0.0700–0.0704 area, the bias leans toward a trendline breakdown rather than a recovery. A loss of the trendline and the 0.0688 support below would open the door toward the range lows and potentially deeper. Any reclaim of 0.0704 with strength would be the first sign that buyers are stepping in with conviction.
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