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Crypto.com Coin Price Analysis: CRO moves to retest $0.50, consolidation to continue?

Crypto com Coin Price analysis

TL;DR Breakdown

  • Crypto.com Coin price analysis is bearish today.
  • CRO/USD set another lower high over the weekend.
  • CRO heads to retest $0.50 support.

Crypto.com Coin price analysis is bearish today as we expect the steady decline over the past days to continue. CRO/USD is likely headed to retest the $0.50 previous support before further upside is tested.

Crypto.com Coin Price Analysis: CRO moves to retest $0.50, consolidation to continue? 1
Cryptocurrency heat map. Source: Coin360

The market overall has seen a steady decline over the last 24 hours. The leaders, Bitcoin and Ethereum, are down by 1.35 and 1.03 percent, respectively. Meanwhile, Crypto.com Coin (CRO) is among the worst performers, with a loss of over 5 percent.

Crypto.com Coin price movement in the last 24 hours: Crypto.com Coin continued to slowly decline

CRO/USD traded in a range of $0.5275 – $0.5527, indicating mild volatility in the market over the last 24 hours. Trading volume has declined by 10.51 percent, totaling $202.3 billion. Meanwhile, the total market cap trades around $13.49 billion, ranking the coin in 15th place overall.

CRO/USD 4-hour chart: CRO looks to retest $0.50

On the 4-hour chart, we can see the Crypto.com Coin price action still bearish today as bears are eager to retest the $0.50 previous support.

Crypto.com Coin Price Analysis: CRO moves to retest $0.50, consolidation to continue?
CRO/USD 4-hour chart. Source: TradingView

Crypto.com Coin price action has seen a steady decline over the past weeks. Together with the decline, we have seen a decrease in the overall trading range, opposite to what we saw during November.

The current swing low at  $0.50 was reached on the 4th of December, together with the overall market decline. The support was later retested on the 6th of December before another strong swing lower high was set around $0.65.

Since then, the Crypto.com Coin price has steadily declined again, looking to reach back to the $0.50 support. Therefore, we expect to see some more downside over the next days. However, if bulls can finally gather momentum above the support, we could see a higher high set later this week.

Crypto.com Coin Price Analysis: Conclusion 

Crypto.com Coin price analysis is bearish today as we expect further drop to follow after a steady decline since the end of the weekend. Likely CRO/USD will find support above the $0.50 previous support before the upside is tested again.

While waiting for Crypto.com Coin to move further, see our articles on Pi Wallet, Electrum Wallet, and Celsius Wallet.

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Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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