TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Crypto.com Chain Technical Analysis: CRO/USD drops 13% after a controversial token swap

  • Just days ago, Crypto.com announced the merge of its MCO and CRO tokens.
  • Users have until November to swap their MCO tokens for CRO, this caused the MCO token to surge by more than 50%.
Crypto.com Chain Technical Analysis: CRO/USD drops 13% after a controversial token swap
Lorenzo StroeLorenzo StroeIndependent Analyst

Unfortunately, CRO didn’t react positively to the news and dropped from a high at $0.178 to the current price of $0.157. Investors seem to be extremely angry as the price of a Crypto.com card has increased significantly due to the upcoming token swap. Furthermore, it seems that the platform made no previous remarks to the merge of the tokens which took investors by surprise. 

CRO/USD daily chart

CROusD

Either way, CRO is still in a robust uptrend and bulls are currently defending the daily 26-EMA at $0.151. The only resistance level nearby is $0.178 although the daily 12-EMA at $0.1593 could pose a threat for the buyers. CRO’s trading volume has been significantly decreasing in the past week and the MACD just turned bearish.

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

More from Lorenzo Stroe
Share:

Editor's Picks

XRP edges higher as bullish derivatives, EMA support underpin breakout prospects

XRP edges higher as bullish derivatives, EMA support underpin breakout prospects

Ripple (XRP) is grinding upward and getting closer to a short-term breakout above $1.40 on Tuesday. This uptick follows the remittance token's defense of support at $1.38, after a short-lived attempt to breach selling pressure at $1.50 last week.
Useless Price Forecast: USELESS poised for another breakout as Korea’s Upbit exchange announces listing

Useless Price Forecast: USELESS poised for another breakout as Korea’s Upbit exchange announces listing

Useless (USELESS) extends its upward trajectory, trading above $0.26 on Tuesday. The meme coin shows strong breakout potential after establishing firm support at $0.20, following an impressive 260% rally from lows near $0.15 on September 1 to a peak of approximately $0.32 last Saturday.
Bitcoin ETFs are still $1 billion shy of breaking even in 2026

Bitcoin ETFs are still $1 billion shy of breaking even in 2026

While investor demand for U.S.-listed spot Bitcoin exchange-traded funds (ETFs) has rebounded in recent weeks, net flows for the year remain firmly in the red. A spectacular August brought in a massive $3.52 billion in fresh capital, followed by a solid $770.15 million so far this month, according to data source SoSoValue.
Top Altcoins Price Forecast: Ripple, Cardano, Solana extend consolidation as bullish momentum fades

Top Altcoins Price Forecast: Ripple, Cardano, Solana extend consolidation as bullish momentum fades

Ripple (XRP), Cardano (ADA), and Solana (SOL) maintain a consolidative tone, struggling to sustain their upside momentum. The technical outlook for XRP, ADA, and SOL suggests downside risk as altcoins struggle to advance their August gains. Ripple trades around $1.40 at press time on Tuesday, holding a constructive bias above its 200-day Exponential Moving Average (EMA) at $1.3550.
Bitcoin: Gearing up for a sharp move

Bitcoin: Gearing up for a sharp move

Bitcoin (BTC) is trading around $81,000 on Friday, up over 4% so far this week, and awaits a key catalyst that could determine its next directional move. Strong institutional demand is supporting the bullish price action, with spot BTC Exchange Traded Funds (ETFs) on track to record a third straight week of inflows.