Crypto.com price could double in the next few weeks
- Crypto.com price token shows signs of climbing higher due to a potential rounding bottom.
- Investors can expect CRO to trigger an exponential rally after flipping the $0.53 resistance barrier into a support level.
- A daily candlestick close below the $0.37 foothold will invalidate the bullish thesis,
Crypto.com price is currently at the midway point in completing a bullish setup. Therefore, market participants can expect massive returns for this token even before a breakout!
Also read: AMC stock falls 13% after FXStreet profit call on Wednesday
Crypto.com price ready for an explosive move
Crypto.com token shows no signs of slowing down as it approaches a significant resistance barrier at $0.53. After bottoming at roughly $0.37, CRO has rallied 27% to where it currently trades - $0.53.
Flipping the said hurdle into a foothold will be key to triggering a massive run-up for Crypto.com price to retest the $0.88 ceiling. Doing so would complete a rounded bottom setup for CRO. This technical formation shows a slow resurgence of buyers that pushes the price back to its peak. If that were the case for Crypto.com price market participants can expect it to gain a total of 88% from its current position.
Depending on the momentum, CRO could extend the run-up and retest the all-time high at $0.97. In some cases, Crypto.com bulls might tag the $1 psychological level and set a new high.
CRO/USDT 1-day chart
Regardess of the outlook for Crypto.com price, the altcoin market could udergo a drastic U-turn if Bitcoin flash crashes. Hence, market participants need to pay close attention to the big crypto's directional bias. In case of a sudden shift in narrative, a daily candlestick close below the $0.37 foothold will invalidate the bullish thesis for the Crypto.com price by producing a lower low. This move is likely to skew the odds in bears’ favor and trigger a crash that could push CRO to January 22 swing low at $0.32.
Author
Akash Girimath
FXStreet
Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.
