Crypto.com is a crypto exchange and payment platform where investors can buy, sell and make payments with cryptocurrencies. Besides, this platform allows people to exchange fiat to crypto and crypto to fiat using VISA cards and other smart contact facilities.
The native token of the Crypto.com platform is CRO, and CRO holders receive perks due to the use of Crypto.com’s products and services. Moreover, CRO works as a settlement asset on the Crypto.com chain, a blockchain that runs under Crypt.com’s branding.
SO far now, Crypto.com Coin Price moved up by more than 1000% and reached nearly $1 value in 2021. The outstanding performance of this coin came between October to November 2021, where the price gained more than 380%, outperforming other larger crypto assets.
At the time of writing, Crypto.com Coin (CRO) price today holds the 13th largest crypto coin globally, where the last 24 hours trading volume was $1,470,912,150. The total circulating supply of this coin is 25.26B CRO, with an overall market capitalization of $19,158,148,276.
So, Is Crypto.com Coin a Good Investment?
Let’s see the Crypto.com Coin price prediction from Technical Analysis Bitcoin:
Crypto.com Coin (CRO) Lost Its Momentum
Crypto.com coin showed an impressive bullish pressure in recent days where the price moved from 0.200 key level to 0.980 all-time high. However, the massive volatility with the increase in trading volume pushed the price to decide at the ATH level. Due to the excessive profit-taking, the price started to crash and is still trading with a bearish possibility.
The above image shows how the price reached the ATH while the gap between the price and dynamic 20 EMA extended. Moreover, MACD Histogram is bullish and moving down in the indicator window, indicating emerging selling pressure.
Based on the daily context, the primary target for the bearish pressure would be towards 0.6782, 61.8% Fibonacci Retracement from 27 October swing low to 24 November swing high. Moreover, the dynamic 20 EMA is at 0.5858, a 50% retracement level from where any bullish rejection would be a potential buying opportunity.
CRO/USDT Ichimoku Cloud Analysis
According to the Ichimoku Cloud, CRO/USDT is trading within a strong bullish pressure where the current price is above the Kumo Cloud for a considerable time. Moreover, the future cloud is bullish where the Senkou Span A is above the Senkou Span B, but the lagging Span is with the price. As the price moved below the dynamic Tenkan Sen and Kijun Sen, investors should focus on how the price reacts on the 0.6782 event level.
The above image shows that the RSI formed a divergence with the price at 70 areas and moved below the 50 levels. Therefore, further downside pressure in RSI towards the oversold 30 levels would increase the bearish possibility in the price.
Based on the Crypto.com Coin price prediction, investors should closely monitor how the price reacts on the 0.6782 event-level from where a bullish rejection with an H4 close above the dynamic KIjun Sen would resume the broader bullish rally. On the other hand, a break below the Kumo Cloud with a massive selling pressure would open rooms for testing the 0.4500 level.
CRO/USDT Intraday Price Action Analysis
In the Intraday H4 chart, CRO/USDT is still trading within a bullish pressure where the current price made three consecutive lower lows in the intraday high volume level for the first time in the last 16 days. However, the trading volume below the most recent intraday high activity level is weaker than the average trading volume per day. Therefore, although the price moved below the dynamic 20 EMA, investors should find a strong investor activity in the price to rely on the possible bearish movement.
The above image shows how the MACD Histogram holds its ground below the neutral level and makes consecutive lows. Moreover, the weekly VWAP and dynamic 20 EMA are above the price and working as minor resistance. In this context, any strong bullish H4 close above the dynamic 20 EMA with the support from the volume bar would be a good buying opportunity in this pair with the target of 1.000 level. On the other hand, a break below the 0.6782 level with a strong bearish H4 candle may lower the price towards the 0.4900 area in the coming days.
Is Crypto.com Coin A Buy?
According to the CRO coin price prediction, the bearish pressure from the ATH has already shown a decent recovery where the decrease in trading volume is a sign that the bearish pressure is decreasing. In that case, bulls should find a reliable buying opportunity by finding the price above the dynamic resistance levels in the H4 chart. On the other hand, a break below 0.6782 might provide more discounted prices to bulls from the 0.4900 area.
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