Market & Ticker: Chromia – CHR/USDC

Date: 06/12/2024

Horizon / Timing:  Tactical Mid-term / 1 to 3 months

Scenario: 

August 2024: CHR has been evolving in descending range since MARCH 2023 triggering an excess of volatility mid-august. This Range is forming a base for a long-term perspective. We do expect a bullish momentum to test the upper part of the range before following the capacity of the token to exit from the pattern to reach previous ATH.

At the current level as long as 0,25 remains a tactical support valid a larger rise towards 0,49 is expected before 0.85 in extension on the long run.

Technical Key Elements:

• Auto similar move at 0.85
• RSI indicator is above 50%with no divergence
• The Moving average are support
• Fibonacci key support is adjusted at 0,25 while the Elliot wave shows upside potential towards 0,85

Trade Idea conclusion: Buy 

• Strategic Target 0,85
• Tactical Target 0,49
• Tactical key support (Pivot) 0.25 (Daily close)

Chart: Daily Basis (Candle Stick) - Logarithmic 

Indicators: Exponential Moving Average (21/34/89) - RSI (21)

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