- Crypto.com price collects liquidity resting below equal lows at $0.1080, hinting at a reversal.
- Investors can expect a carefree ascent to $0.1260 to collect the buy-stop liquidity.
- A daily candlestick close below the range low at $0.0985 will invalidate the bullish thesis.
Crypto.com price has been on a downtrend since it formed a peak on August 3. This development has caused CRO to produce a string of lower lows and lower highs. However, on closer inspection, the altcoin reveals a liquidity run and a potentially bullish setup.
Crypto.com price ready to explode
Crypto.com price swept below the equal lows at $0.1080 on September 15, and this move steepened over the next five days. However, the price action from August 3 shows that CRO has produced two distinctive lower highs and four lower lows.
These Crypto.com price swing points are connected using trend lines, which reveal a falling wedge pattern. This technical formation hints that a bullish reversal is forthcoming and forecasts a 21% upswing, determined by measuring the first swing high and swing low to the breakout point.
Although Crypto.com price has not produced a breakout, investors can expect it to occur around $0.1120, which puts the falling wedge target for CRO at $0.1360. However, judging by the price action, a conservative target is the liquidity resting above the equal highs formed at $0.1260.
CRO/USDT 1-day chart
While things are looking up for Crypto.com price, there is another equal low formed at the range low at $0.0985, which might be swept. Therefore, investors need to be generous with their stop-losses, especially if they decide to take up this trade.
On the other hand, if Crypto.com price produces a daily candlestick close below $0.0985 and flips the range low into a resistance level, it will invalidate the bullish thesis. This development could see CRO revisit the $0.0922 support floor.
Note:
The video attached below talks about Bitcoin price and its potential outlook, which could influence Cardano price.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Japan mulls lifting Bitcoin ETF ban, slashing taxes on crypto gains
Japan's Financial Services Agency has proposed a rule change to bring crypto assets under the jurisdiction of the Financial Instruments and Exchange Act. The proposal, to be reviewed on June 25, could pave the way for the listing of Bitcoin ETFs.
Bitcoin recovers as Iran-Israel ceasefire fuels risk-on sentiment
Bitcoin price stabilizes around $105,000 on Tuesday after a 4.33% gain on Monday, driven by easing geopolitical and regulatory concerns. Global risk appetite is increasing as the ceasefire between Iran and Israel, along with the Fed's softer stance on crypto-related banking, takes hold.
Crypto Today: Bitcoin, Ethereum, XRP consolidate gains after Israel-Iran ceasefire
Tensions in the Middle East have taken the backseat after US President Donald Trump announced a ceasefire between Israel and Iran on Monday. Global markets, including cryptocurrencies, ticked up, boosting BTC's recovery above $105,000 at the time of writing on Tuesday.
Pi Network Price Forecast: Minor recovery teases trend reversal amid GenAI claims, Pi2Day
Pi Network edges higher on Tuesday, holding above a crucial psychological and trendline support. The Pi Core team teases a potential Generative AI feature to be announced on Pi2Day, June 28.
Bitcoin Weekly Forecast: The calm before the storm
Bitcoin (BTC) price remains steady above a key support level, trading slightly above $106,000 at the time of writing on Friday. The uncertainty looms as geopolitical tensions between Iran and Israel show no sign yet of an exit strategy from either side.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.