Price Analysis

CRO Price To Hit Lower Levels, Bulls Expected To Enter At This Level With 25% Upswing Ahead !

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Feb 3, 2022

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Highlights

    CRO price since from a pretty long time is swinging within a descending channel, displaying more probability of revisiting lower levels

    The asset is primed to hit the lower support any time from now, yet the next leg still remains pretty misty

The Crypto.com had a magnificent inception which spike the price from just around $0.28 to as high as $0.998 but could not surpass $1. Woefully ever since then the asset is plunging drastically along with the descending trend line.

The asset dropped very close to its initial levels but luckily a small trend reversal flipped the price for some time. 

Despite the recent jump, yet the asset is again plunging from the past trading day and appears to be primed to hit the local support. Here the asset may undergo a flip from the bearish trend with a strong rebound to the immediate resistance above $0.44.

Else the asset could continue to plunge to test the lower and the crucial support levels around the initial price zone. 

The asset was swinging within a huge falling wedge from a pretty long time. No doubt it had a slight bullish breakout but with the fresh dump, the pattern breakout remained nullified.

However, the CRO price bounced off from the $0.3 support zone which is also at the 200-day MA.The got rejected at one of the important resistance around $0.44 that hampered the rally which aimed to hit $0.5. 

However in the short-term the technicals are extremely bearish with most of the indicators pointing out towards sell or they are neutral. The RSI which had bottomed hard and visited the overbought levels had flipped and rising towards the north yet a bearis divergence hindered the bullish momentum.

Yet on the other hand, the MACD is showcasing a possibility of an ease in buying volume but not accumulation of selling volume. Therefore after undergoing an interim pullback, yet the Crypto.com(CRO) price is primed to bounce back with huge margin very soon.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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