• com rebounded from a triple bottom set up on 24 February and tried to retest the $0.51 value area.
  • After failing to accomplish the move and dropping towards $0.437, the alt gives an uptrend another go.
  • A 24hr candle close under $0.437 will cancel CRO’s bullish thesis.

Crypto.com price hovers at a fascinating level following the lasted drawdown. Enthusiasts can perceive the drop as an accumulation opportunity to own CRO at discounted prices. A rebound from the nearest support floor will likely trigger another upswing that would try to accomplish the failed attempt.

Crypto.com Ready for a Reversal

CRO formed a triple bottom after rebounding from the $0.355 three times. The previous hit of this level catalyzed a 45% run-up towards the $0.502 mark. Nevertheless, the upswing stalled at $0.44, translating to a sharp drop that followed the latest flash crash by Bitcoin.

The altcoin retested the support at $0.437 after losing approximately 10% of its value. A quick rebound or consolidation might catalyze an upsurge in Crypto.com price. The emerging rally will likely trigger an uptrend to the resistance at 0.512 after the first try failed. Therefore, market players can anticipate a swift 16% upsurge in the upcoming days.

IntoTheBlock’s GOIM model supports CRO’s upward movements. The index suggests the massive investors’ cluster at the $0.40 – $0.20 range serves as a support barrier. About 29,000 holders bought nearly 80 billion Crypto.com coins at a $0.315 average price and will likely accumulate more once prices fall in their zone. Therefore, an uptrend appears possible. Moreover, CRO price doesn’t have a resistance barrier, cementing the upside narrative.

Meanwhile, a 24-hour candlestick close under $0.437 will overturn the support level into a resistance barrier, canceling Crypto.com’s bullish thesis. Such developments will clear the road for the alt to decline by % to retest the 3-day demand region, stretching between $0.316 and $0.399.

Furthermore, CRO will depend on broad market sentiment. For now, the crypto spectrum exhibits a bearish stance. The global cryptocurrency market capitalization lost 4.41% within the past day, standing around $2.01 trillion at this publication. Keeping the downward mode will see Crypto.com resorting to downswings.

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