- Crypto.com price has been in a sustained downward trend since August.
- The bulls are fighting a return to the 8-day exponential moving average for support.
- A recovery towards $0.20 could occur even as the lows are tested.
The price of Crypto.com could fool many investors in the coming weeks. With a CRO price hovering in the $0.10 area, many dips could lose steam.
Crypto.com price could recover towards $0.20
Crypto.com is currently trading at USD 0.1065. The bulls are testing the resistance of the 8-day exponential moving average. The Relative Strength Index shows that the bulls are testing a former resistance zone as they try to stay above the eventual copper level. The volume profile index is the best evidence that an upward trend could occur.
In combination with these factors, a CRO price rally should not be ruled out. A classic retest of the previously broken support at $0.20 would mark a 100% gain. Investors should note that the erratic downtrend could fit the context of an Elliott B wave. B waves usually break through the starting point of the previous impulsive rally (wave A) before ending and continuing to rise in wave C.
CRO USDT 2 Day Chart
A clear invalidation point cannot therefore be determined without further ado. The May 9 low of $0.0984 could be used for intraday traders trying to catch the knife. Ultimately, a dollar-cost average approach should be used for investors willing to buy into a very early, risky, but highly likely scenario.