The Crypto.com (CRO) price fell below a minor support area. This could be the first step toward a larger and more significant price decrease.
CRO is the native token of the Crypto.com exchange. The CRO token price has fallen under a long-term descending resistance line since reaching an all-time high price of $0.955 in November 2021. The downward movement led to a low of $0.053 in November 2022. The price has increased since, validating the $0.060 horizontal area as support.
Despite the increase, CRO failed to break out from the resistance line. Rather, it was rejected after reaching a new yearly high of $0.095. Moreover, the weekly RSI is still below 50, a sign of a bearish trend.
Nevertheless, the CRO coin price created a higher low in March, validating the $0.060 support area again (green icon).
Whether the price breaks out from the resistance line or falls below the $0.060 area instead could determine the future trend. A breakout could take the crypto.com price to the $0.118 resistance area, while a breakdown could catalyze a sharp fall to $0.030.
Short-Term Crypto.com (CRO) Price Weakness Could Lead to Collapse
While the weekly chart presents a mixed outlook, the daily one is decisively bearish. The main reason for this is the loss of t
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Author: Valdrin Tahiri
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