Is the CRO Price Apocalypse Already Underway?

  • The take profit reaction of the CRO price to the expected target of $ 0.15 looks overwhelming.
  • A 21-day simple moving average could be seen as the last support barrier to Crypto.com’s uptrend.
  • The invalidation of the downtrend scenario is a breach above $ 0.16.

The CRO price is showing strong selling pressure. Traders need to act quickly to prevent a massive sell-off.

The price of the CRO looks worrying

Crypto.com’s initial price reaction to the $ 0.15 barrier looks troubling. The target area mentioned in a previous perspective was marked on Tuesday 2 August. The breach caused an immediate rebound to the $ 0.14 plunge.
Crypto.com price is currently trading at $ 0.14. If traders cannot intervene quickly, a second attempt to break out of the $ 0.15 barrier may never happen. A break of the 21-day simple moving average (SMA) $ 0.13 could be the catalyst for a major sell-off to $ 0.11 and potentially the July low $ 0.10.

CRO / USDT 2-hour chart

The invalidation of the downtrend is a breach above $ 0.16. If traders manage to break through this barrier, they may be able to redirect north by aiming for $ 0.18 in the short term. This development would result in a 30% increase over the current CRO price.

In the following video, our analysts dive into the CRO’s price action, analyzing the key levels of interest in the market. -Team Netcost-Security

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