• Crypto.com price closed in 2021 with an 860% gain.
  • The massive rise from late October 2021 through December 2021 has been maintained.
  • CRO may test lower before resuming any uptrend.

Crypto.com price action had been one of the biggest surprises of 2021. Substantially bullish technical and fundamental events propelled CRO into a major leader in the cryptocurrency space. Traders now await a clear direction for price action as Crypto.com price consolidates.

Crypto.com price trades in a tight range; substantial Ichimoku resistance levels ahead

Crypto.com price continues to trade in a tight range between $0.50 and $0.61 – essentially the 38.2% and 50% Fibonacci retracement levels. This price action behavior has lasted for over thirty days and does not appear to be changing anytime soon. Therefore, the probabilities are weighed heavily to the downside in the short-term regarding a breakout direction.

The chart's blue and red horizontal rays represent the weekly Tenkan-Sen (Blue) at $0.77 and the weekly Kijun-Sen (Red) at $0.66. between the weekly Tenkan-Sen and Kijun-Sen, the daily Cloud (Senkou Span A and Senkou Span B) exist. Combining those four Ichimoku levels on two different time frames produces a massive resistance zone, limiting how much higher CRO price can go.

CRO price is below the daily Cloud, Tenkan-Sen, and Kijun-Sen. Only one condition remains before CRO price action would create a powerful Ichimoku short entry known as the Ideal Bearish Ichimoku Breakout. The final condition required is the Chikou Span to close in 'open space' – a condition where the Chikou Span would not intercept the bodies of any candlesticks over the next five to ten periods. That would occur on a daily close at or below $0.49.

CRO/USD Daily Ichimoku Chart

It is essential, for bulls, that $0.50 hold as support to prevent a significant capitulation move south. The level at $0.50 is not only a potent psychological number, but it is the 50% Fibonacci retracement and the final high volume node in the 2021 Volume Profile until the next high volume node at $0.40 – the likely target area for shorts on any close at or below $0.49.

A clear bullish outlook within the Ichimoku Kinko Hyo system can only be achieved if CRO price has a close above the daily Cloud and weekly Tenkan-Sen at $0.81.

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.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Here’s the list of crypto exchanges that will support Terra’s LUNA hard fork

Here’s the list of crypto exchanges that will support Terra’s LUNA hard fork

Cryptocurrency exchanges are on board Terra’s LUNA hard fork and Do Kwon’s plan for the Terraform Labs token’s rebirth. Do Kwon has garnered support from leading cryptocurrency exchanges for the new Terra chain. 

More Terra News

Breaking: Ethereum breaks below $1,900 as selling pressure accelerates

Breaking: Ethereum breaks below $1,900 as selling pressure accelerates

Ethereum dipped below the $1,900 support level over the past few hours. A decisive close below such a vital demand zone will put ETH at risk of a 38% correction toward $1,200. 

More Ethereum News

A big price move is coming for Binance Coin; here’s what to look out for

A big price move is coming for Binance Coin; here’s what to look out for

A brief technical and on-chain analysis on Binance Coin price. Here, FXStreet's analysts evaluate where BNB could be heading next. 

More Binance Coin News

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos Ready - set - RALLY!

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos Ready - set - RALLY!

Bitcoin price, Ethereum and other cryptocurrencies are stabilising after the cryptocurrency space got slaughtered last week and two weeks ago.

More Bitcoin News

Bitcoin: The last rebound before capitulation

Bitcoin: The last rebound before capitulation

Bitcoin is showing bullish signs in the lower time frames, which can be taken advantage of by traders in the next couple of days. But looking at BTC from the higher time frames suggests that the bottom is not in yet.

Read full analysis

BTC

ETH

XRP