CRO Technical Analysis: Keep a Stop Loss of $0.1271 with a Target of $0.1011

Ankita  |  May 22, 2021

Crypto.com is a financial services company providing payment and trading solutions to its customers. CRO is a native coin of Crypto.com, CRO blockchain powers the Crypto.com Pay Mobile payments app. Crypto.com provides various real-time solutions to accelerate the adoption of cryptocurrencies globally. The CRO technical analysis is as follows:

Past Performance

In the past 30 days, CRO has traded between the low of $0.09993 to the high of $0.1989. CRO created an all-time high at $0.271 in February, at the peak of the bull run. It is down about 56.71% from its all-time high.

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Day Ahead And Tomorrow

In the past 24 hours, the price has decreased by 12.41%, from a high of $0.11 to make a low of $0.1411. At the time of press, CRO is trading at $0.1155.

CRO’s daily chart highlights the support level that the price has breached. It broke the level of $0.1643 followed by $0.1284, in the recent market correction. The outlook shows that CRO is following a bearish trend.

The selling pressure in the market has increased thus the price of the cryptocurrency has been decreasing. The Relative Strength Index has been following the down path reaching near to the oversold zone, considering the selling pressure it can follow the same path.

The MACD indicator is indicating a bearish market as the MACD line crossed under the signal line. Although it has indicated a beginning of the bearish trend, the price will stabilize only as it approaches near zero.

 CRO Technical Analysis

Traders can take a short position at this level keeping a stop loss of $0.1271, whereas the target can be $0.1011. Since the price has already breached two key support levels, the next support is at $0.0936 which can be retested on the daily chart. These are the crucial levels that traders have to watch out for.

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