Coin Price Analysis: CRO breaks $0.35, starts to reject downside?

Crypto com Price analysis

TL;DR Breakdown

  • Coin price analysis is bullish today.
  • CRO/USD broke next support at $0.35 this morning.
  • Support potentially found at $0.33. Coin price analysis is bullish today as we have seen signs of rejection for further downside over the past hours after a spike to $0.33 this morning. Therefore, CRO?USD has potentially bottomed out for now, leading to a retracement later today. Coin Price Analysis: CRO breaks $0.35, starts to reject downside? 1
Cryptocurrency heat map. Source: Coin360

The market has continued to sell-off over the last 24 hours. The market leaders, Bitcoin and Ethereum, are down by 8.66 and 14.23 percent. Meanwhile, the rest of the top altcoins follow with similar losses. Coin price movement in the last 24 hours: Coin drop another 20 percent

CRO/USD traded in a range of $0.328 – $0.4082, indicating large volatility over the last 24 hours. Trading volume has increased by 9 percent, totaling $259 million, while the total market cap trades around $8.5 billion, ranking the coin in 19th place overall.

CRO/USD 4-hour chart: CRO begins to reverse above $0.33?

On the 4-hour chart, we can see the Coin price finding slight rejection over the last hours after a test of $0.33 mark. Coin Price Analysis: CRO breaks $0.35, starts to reject downside?
CRO/USD 4-hour chart. Source: TradingView Coin price has seen a steady decline since last month when a new higher high was set at $0.69. Since then, CRO/USD has continuously tested further downside, with the last major support around the $0.44 mark.

On the 20th of January, a brief recovery set another local lower low at $0.47. Selloff intensified since then, leading to a drop of another 30 percent since then.

Previous major support at $0.35 was broken this morning, with the $0.33 mark tested over the last hours. Likely bears are finally exhausted, meaning we can expect retracement to follow later in the weekend. Coin Price Analysis: Conclusion Coin price analysis is bullish today as we expect a reversal to follow shortly. Since CRO/USD dropped another 20 percent and has found a slight reaction at $0.33, we expect a retracement to finally follow.

While waiting for Coin to move further, see our articles on Coinbase Vault vs Wallet, Cardano price prediction, and crypto tax-loss harvesting.

Disclaimer. The information provided is not trading advice. holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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