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Crypto.com Coin Price Analysis: CRO breaks below $0.50 support, more downside to follow?

Crypto com Coin Price analysis

TL;DR Breakdown

  • Crypto.com Coin price analysis is bearish today.
  • CRO/USD broke past the $0.50 support.
  • Next support at $0.40.

Crypto.com Coin price analysis is bearish as the forecast predicts more downside to follow after breaking past the $0.50 support. Therefore, CRO/USD should see a lot more downside later this week, with the next support as far as the $0.40 mark.

Crypto.com Coin Price Analysis: CRO breaks below $0.50 support, more downside to follow? 1
Cryptocurrency heat map. Source: Coin360

The market has seen bearish momentum return over the last 24 hours. Bitcoin, has lost 1.62 percent, while Ethereum has lost 1.98 percent. Meanwhile, Crypto.com Coin (CRO) is among the worst performers, with a loss of over 7 percent.

Crypto.com Coin price movement in the last 24 hours: Crypto.com Coin breaks $0.50 support, continues lower

CRO/USD traded in a range of $0.4811 – $0.5247, indicating substantial volatility over the last 24 hours. Trading volume has increased by 50.52 percent, totaling $224.6 million, while the total market cap trades around $12.3 billion, ranking the coin in 16th place overall.

CRO/USD 4-hour chart: CRP headed towards $0.40 next?

On the 4-hour chart, we can see the Crypto.com Coin price still declining, as there are no close support levels after the $0.50 support.

Crypto.com Coin Price Analysis: CRO breaks below $0.50 support, more downside to follow?
CRO/USD 4-hour chart. Source: TradingView

Crypto.com Coin price has seen a steady decline over the past weeks. The trading range has been increasingly more narrow, as a series of lower lows and highs have been set.

Some support was found above the $0.50 mark, which previously reversed CRO/USD in a strong way at the beginning of December. However, a reversal was not seen this time, as bears managed to push the market below the support earlier today.

The next major support is seen as far as the $0.4 mark, with some support potentially found around $0.45. Ultimately, Crypto.com Coin price should see a decline over the following days as there is a lot of room for further downside.

Crypto.com Coin Price Analysis: Conclusion 

Crypto.com Coin price analysis is bearish today as we saw a strong break below the $0.50 support earlier today. Since then, CRO/USD has continued to move lower, likely leading to a lot more downside over the next 24 hours.

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

Disclaimer. The information provided is not trading advice. Cryptopolitan.com 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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