Price Analysis

These Two Tokens May Wage War Against the Bears In the Near Future!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Jan 20, 2022

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Crypto.Com(CRO)

Crypto.com is one such asset that was raised like a giant and also is plunging in a similar fashion. While many other assets did attempt to rebound with notable figures, the CRO price continued to form lower highs and lows. And eventually, the asset has bottomed very hard close to the major support levels. And this is when every rebound ignites which begins with a sharp recovery. 

As seen in the chart, the asset has plunged hard and is very close to its initial stages around $0.2. Therefore after shedding more than 56% of its value, the asset may jump into action very soon. Each time any asset drops to such an extent, it tends to recover fast. As the traders jump in as the price enters the high demand area which is pretty close to current levels. And no matter even if the asset continues with the consolidation or downtrend, it may surge heavily at the end of accumulation. 

Also Read: Zilliqa On The Verge Of Eliminating Another Zero, Will DeFi And Metapolis Flare-up The Bulls?

Loopring(LRC)

Loopring is also showcasing the same potential of going parabolic. The asset maintained a very narrow trend throughout the year 2021 and suddenly surged high amid the NFT boom. Within just 10 days of the bull rally, the LRC price smashed its high at around $3.8. No doubt some of the bears did try to drag the price down yet the price with a ‘V-shape’ recovery regained its levels close to the ATH. However after fighting for long, bulls got exhausted and at the beginning of December 2021, the asset fell into a deep bearish trap.

The price currently is dropping hard towards the strong support levels and a flip appears very much in place. The asset has lost more than 70% of its value and is waiting for an opportunity to flip the bearish trend. Moreover, the asset is yet to reach the demand zone which is just below the strong support area around $1.17. And this is when the buyers may jump into uplifting the price to the highest possible limits shortly.

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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