🔎 #CRO Analysis

Coin #CRO is close to breaking the global downtrend of the📉 price, which has been relevant for a long time. For more than a year, the global Elliott corrective cycle has been developing. Its last wave ended only recently, the price found support at $0.06, briefly going up to $0.045. This level turned out to be quite strong, as all the consolidation at the lows took place above it.
The boundary can be defined from below as the $0.06 horizontal support line and from above as the $0.1 horizontal resistance line. Buyers made an attempt to break the resistance. For a short time, the price rose above this level. Now the price has rolled back to the intermediate level of $0.08, which acts as support on the local timeframe.
The price may rebound and settle above the support if the price goes to test the level again. Under this condition, the structure of the upward impulse and the transition to wave III from the new global cycle, which consists of 5 Elliott waves, will be preserved. Presumably, wave II should end at $0.08. So far, this cannot be considered a confirmed fact. If CRO fails to gain a foothold above the level and break through the $0.1 resistance, the price will return to the lows of $0.06.
More locally, we can analyze the latest events with a breakout of resistance levels and corrective wave II from the global cycle. On a timeframe, one day, it splits into a standard A-B-C zigzag. The transition from a downward to an upward impulse is not confirmed here. It can be assumed that on subwave A, the price will approach the $0.01 resistance. I don't expect a breakdown of the resistance right away. Most likely, the price will bounce down from it for a retest of the $0.08 support. This consolidation will complete the formation of the second corrective wave.
The formation of the cycle was preceded by the Three Drives pattern. The first two movements were limited to the support level. The third move threw the price to a new low. A buyer appeared, and the price worked out a reversal pattern.
A bullish crossover has occurred on the MACD indicator. The indicator line has crossed the signal line, which indicates the potential for price growth. Also, quite recently, there was a crossover of the DMI indicator lines. +DI moves over -DI. During the retest, the trend strength line ADX reached the lows. There are signs of a transition to a bullish trend. 
Both charts do not contradict each other. It is necessary to monitor the fulfillment of the conditions. To correctly determine the further movement, it is necessary to confirm in the form of fixing above the $0.1 level or going below the $0.06 level. In the bullish scenario, the target of wave III is at $1.6. The immediate targets in case of a transition to the bearish scenario are $0.06 and below.