CRO Technical Analysis – December 2021
November has been quite a successful month for CRO and its community. The price surged upwards by almost 400%, making it an incredible run for CRO. It reached a new all-time high because of the recent run at around $0.97. As the trend is still bullish, CRO has retraced by 34% recently.
In the last 7 days, CRO initially increased by 50% where the all-time high was reached. After that, the price was followed by a 34% retracement. While many began to believe that this would be the beginning of a downtrend, the new low is now higher than the previous one, indicating that the uptrend is still on.
In the intraday chart, CRO has been bearish. The price has dropped by 5% so far. Nonetheless, we could soon see CRO hit support and have another go upward in the coming hours.
The 20-moving average is currently below the price after the price has been in correction, despite going above the price from the 34% dip. The MA line is currently acting as support to the price of CRO.
Relative Strength Index
The RSI of a 4-hour chart is currently at around 50, meaning that CRO is neither bullish nor bearish. This indicates that there is plenty of room for the uptrend to continue.
Due to the recent price drop, the MACD line of a 4-hour chart had been quite below the signal line. However, the lines are now converging, indicating that the momentum is shifting into a bullish one at this rate.
Fear & Greed
The fear & greed indicator of a 4-hour chart suggests that the current emotion of CRO traders is fear due to the recent decline. This could soon turn into greed as the buying pressure is increasing.
The Fibonacci retracement levels suggest that the price of CRO has recently retraced to the 78.6% in a 4-hour chart. Since the new low is higher than the previous one, we could see CRO reach for one of the extension levels in the coming days.
Price Prediction CRO – December 2021
Based on this technical analysis on Crypto.com Coin (CRO), we could soon see the price of CRO retest resistance at the all-time high if it manages to break the structure at $0.81. The price of CRO could go for $2 in the long run. Considering that the market cap of CRO is at around $22 billion, a price of $2 would see CRO surpass Solana and go close to Tether, which is entirely possible for a project such as Crypto.com Coin.
Latest News for CRO – Affecting Price
After the Staples Arena in LA was renamed to Crypto.com arena, the price f CRO boomed since it got a lot of exposure. Recently, major exchange Huobi Global has listed CRO as well, further increasing the accessibility of CRO. This could have a positive impact on the price of CRO.