CRO Technical Analysis: Dominating Bears Threaten 30% Fall
CRO is the native cryptocurrency token of the Crypto.com blockchain that provides services to the users of Crypto.com in payment, trading, and other financial services solutions.
Let us move ahead to read about the Crypto.com Coin technical analysis.
Past Performance of CRO
The CRO coin price shows a downtrend in action in the daily chart under the influence of a long coming resistance trendline. The coin price reached the support zone at $0.46 due to the 45% downfall last month.
Therefore, the increased selling pressure indicates a downfall below the support zone.
CRO Technical Analysis
The CRO coin price approaches the support trendline of the wedge pattern in the daily chart. However, the recent fear mood in the market haunts a bearish fallout.
The coin price breaks below the crucial 50-day EMAs and struggles to sustain above the 100-day EMA. Nonetheless, the price remains above the 200-day EMA suggesting an overall uptrend in action.
The ADX indicator at 14% shows a gradually rising slope in the daily chart. Therefore, the indicator suggests a rise in bearish trend momentum.
The Stochastic RSI indicator shows the K and D lines falling inside the oversold zone. However, the lines recover and indicate a high possibility of a bullish crossover.
The Bollinger Bands showcase a consolidation in action, as the upper and lower bands maintain a sideways trend with the baseline. However, the prices are near the lower band and show a high likelihood of breaking below.
Upcoming Trend
The CRO coin price action showcases a rise in selling pressure as it approaches the support zone at $0.46. Therefore, a downfall below the support zone is most likely.
The price action denotes crucial support levels at $0.32 and $0.21. And, on the opposite end, the resistance levels are at $0.65 and $0.88.