CRO Technical Analysis: Price Successfully Broken Its Recent High at $0.16

Ankita  |  Sep 11, 2021

Crypto.com Coin is the native cryptocurrency token of Crypto.com Chain - a decentralized, open-source blockchain created by the Crypto.com payment, trading, and financial services company. In addition to Crypto.com Chain, Crypto.com offers a range of solutions designed to increase personal control over your money, safeguard your data, and protect your identity. Specifically, the CRO blockchain powers the Crypto.com Pay mobile payments app. Let us look at the technical analysis of CRO.

Past Performance

The current price of CRO is $0.17, which is down by 5.82% in the last 24 hours, resulting in an equivalent depreciation in the market cap of CRO in the last 24 hours. In the last seven days, the price has appreciated by 6.25%. CRO traded between $0.16-$0.18 in the last 24 hours.

TradingView Chart

CRO Technical Analysis

On the daily chart, the OBV is in a straight line, indicating there is no significant movement in the OBV thus, it suggests that the interest of investors in CRO is neutral.

The RSI is currently at the mark of 55.27%. The RSI has made higher highs and higher lows this month. The RSI faced rejection at 59.72% took a downswing and is making another uptrend after finding support at 53.63%. The buying pressures are approaching the market and pulling the RSI up.

MACD and EMA lines are above the zero range, however, there is a bearish crossover on the chart, the selling pressures are overtaking the market, although the lines are still close to each other we might expect a reversal in trend in some time.

Day-Ahead and Tomorrow

The CRO price has successfully broken its recent high at $0.16, the FIB retracement level is formed at $0.18. Once it breaks out of this level, traders can take a long position. By keeping a stop loss at $0.16.

At the current price if the buying pressures overtakes the market we might expect the price to break up at this level, however, if the bears take control of the market the price will break down this level. If the price breaks down from this level, it will highlight the support level at $0.15. Traders can take a short position accordingly by keeping a stop loss at $0.162.

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