Crypto.com Coin Price Prediction: Considering the possibility of a rally amid extreme volatility

  • The price of Crypto.com coins is rising after hitting the lowest price at $ 0.10.
  • Investor sentiment provides information on the continuation of the uptrend.
  • CRO’s push to higher levels is likely to fade if whales continue to make early profits.

Crypto.com’s coin price is taking the fight to higher levels after last week’s positive turnaround. The primary support set at $ 0.10 has captured the hearts of many investors as they have seen a bullish reversal. At the time of writing, the CRO is switching hands at $ 0.15 while looking at a potential move at $ 0.20.

Crypto.com coin price ignores bearish market conditions and posts substantial gains

The cryptocurrency market experienced an impressive monthly close, but things quickly turned bearish on August 1, as major assets such as Bitcoin and Ethereum recorded significant losses. Geopolitical tensions following a clash between the US and China over a visit by House Speaker Nancy Pelosi to Taiwan is likely to blame.

While the cryptocurrency market struggles to find a solid foundation, the price of Crypto.com Coin is among the best performing tokens, up 10.50% in 24 hours. A buy signal from the Super Trend Indicator implies that the bulls will manage to reduce seller congestion to $ 0.15, paving the way for early gains at $ 0.20.

CRO / USD daily chart

A daily close above $ 0.15 will go a long way in strengthening buyers’ growing influence on the market. To the downside, the descending trend line and 50-day simple moving average (SMA) offer immediate support to the CRO. As long as these two metrics favor Crypto.com Coin’s price increase, the recovery to $ 0.20 would be a matter of when, not if.

Santiment’s total weighted sentiment model supports the bullish narrative as it attempts to cross the middle line. In other words, investors believe the CRO is extremely undervalued and, therefore, has great upside potential. However, traders should be careful as the token will be considered overvalued if it crosses the middle line, a situation that often quickly turns bearish.

CRO price

Crypto.com Weighted sentiment for coins

According to CRO’s supply distribution metrics, some whales have already started making a profit. The graph below shows a sharp decline in the percentage of offers held by addresses with a number between 1 million and 10 million tokens, from 4.59% on July 27 to 4.31% on August 2.

CRO sentiment

Distribution of Crypto.com’s coin offering

The upward trend in Crypto.com Coin’s price will likely take a hit if the sales frenzy, as seen above, continues. Furthermore, the Stochastic RSI on the daily chart is already oversold, which implies that a correction may be in the offing.

Leave a Comment