More downside for CRO over 2021
3 things that are clear to me at least from weekly technical perspective
- MACD is still wildly overbought.
0.5 fib sits nicely on a support.
0.616 fib sits too nicely on a support.
There is a very high likelihood we are heading down to at least 0.10 within 3 months.
Apart from these, many have lost their trust with CDC , largely due to their poor and sudden communication of extreme changes. CDC may have a future, but it will take a while to regain the trust of long time believers who were crushed over the MCO CRO swap, and now the literal bait and switch over the CRO earn rates. I also foresee competitors rising up in 2021, will will contribute to the selloff over the next few months. It also doesn’t help that another 20B CRO will be released when mainnet arrives. They have also yet to spell out or demonstrate the utility of CRO , and how mainstream would adopt CRO for day to day transactions.
Time will only tell.