- Crypto.com price has risen by 7% since the start of the new year.
- The CRO price has an untagged liquidity level from 2020, which is 12% below the current market value.
- A breach below $0.0550 could be the start of a 12% downtrend.
Crypto.com price hovers near uncollected liquidity from 2020. Key levels have been defined to determine if bears have the potential to shake out long-term investors.
Crypto.com price is playing it close
Crypto.com price has been trading within a 6% range since the second week of December. On January 1, the Ethereum-based crypto exchange token bounced from the lower end of the contracting range producing at $0.0553, halting the bears' attempt to breach the 2022 low at $0.550. CRO would then go on to rally by 7% into the $0.06 barrier.
Crypto.com price currently auctions at $0.058. The recent move north had produced a 7% increase in market value from 2023's opening price. In the process, the bulls have breached both the 8-day exponential moving average and 21-day simple moving averages. As the price consolidates, the moving averages are coiling, suggesting a strong move will resolve the stalling market's behavior.
If the market is genuinely bullish, the first level of interest to aim for would be December's opening price of $0.065. CRO would rise by 10% under the bullish scenario.
CRO/USDT 1-week chart
On the contrary, a slide beneath the recently breached indicators could wreak havoc on Crypto.com's uptrend potential. The yearly low at $0.0550 will ultimately face a challenge if the bulls lose their footing. The next key target would be the swing low at $0.0520, which has remained unbreached since 2020. The CRO price would be 12% off its market value if the cards played out in the bears' favor.
This video details how Bitcoin price moves could affect Crypto.com price
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