Crypto.com (CRO) prices appear to be falling further after being rejected

in #coinlast year (edited)

Crypto.com (CRO) prices follow a long-term downward resistance line.
It was rejected by a resistance zone of $0.073.
Crypto.com (CRO) follows the short-term upward support line.
The short-term support area has rejected the price of Crypto.com (CRO), which may trigger a downward trend.

1679533137996.png

CRO is the native token of the Crypto.com exchange. Since November 2021, the price of CRO tokens has fallen below the long-term downward resistance line, reaching an all-time high of $0.955. The decline ended at a low of $0.053 in November 2022. The subsequent rebound confirmed the support of the $0.060 area and initiated the current upward trend.
However, the CRO price has not yet broken through the above resistance line. Recently, the row caused a rejection in February (red icon). After that, the CRO price rebounded in the support area of $0.060, creating a higher low point (green icon).
As a result, prices are now close to the intersection of the long-term resistance line and the $0.060 support area. Whether it breaks or falls determines the future trend. A breakthrough may bring Crypto.com prices to the next resistance level of $0.118, while a breakthrough may quickly drop to $0.030.
The weekly RSI is increasing, but still below 50, with a fairly neutral reading.

1679533194199.png

CRO is the native token of the Crypto.com exchange.
Since November 2021, the price of CRO tokens has fallen below the long-term downward resistance line, reaching an all-time high of $0.955. The decline ended at a low of $0.053 in November 2022. The subsequent rebound confirmed the support of the $0.060 area and initiated the current upward trend.
However, the CRO price has not yet broken through the above resistance line. Recently, the row caused a rejection in February (red icon). After that, the CRO price rebounded in the support area of $0.060, creating a higher low point (green icon).
As a result, prices are now close to the intersection of the long-term resistance line and the $0.060 support area. Whether it breaks or falls determines the future trend. A breakthrough may bring Crypto.com prices to the next resistance level of $0.118, while a breakthrough may quickly drop to $0.030.
The weekly RSI is increasing, but still below 50, with a fairly neutral reading.
In summary, the most likely CRO price forecast is to fall to the support area of $0.060. Whether prices break or rebound from it can determine future trends. Restoring the resistance zone of $0.074 would invalidate this bearish forecast and could catalyse an upward movement to the long-term resistance line of $0.084.

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