• Crypto.com price has crashed 83% over the last six months, but a bottom could be near.
  • Due to a bullish divergence, CRO has posted a ‘buy signal,’ hinting at a 50% run-up.
  • A daily candlestick close below $0.139 will invalidate the bullish thesis.

Crypto.com price stabilization on a high time frame chart indicates that a bottom formation could be taking place. This pattern combined with a bullish signal from a momentum indicator adds credence to the possibility of a reversal and a recovery rally for CRO.

Moreover, Crypto.com, the company behind CRO token, has named new managing director Kwon Park to further its effort in the Web3 space. With NFTs and Crypto gaming taking the center stage, institutional investors are looking at Web3 as the next big thing.

Outlining his views Park stated,

This is an incredibly exciting time for Crypto.com with unprecedented growth of our products and services, and I look forward to helping the company continue the momentum in its journey.

Crypto.com price prepares for a U-turn

Crypto.com price crashed 83% from its all-time high at $0.975 on November 24, 2021, and formed a swing low at $0.167 on May 12. Despite the ripple effects of the LUNA crash dissipating, CRO sellers have pushed it lower to produce a lower low at $0.163. 

All altcoins have been hit by similar declines as Bitcoin took a dip on May 26, falling to levels where it can collect liquidity below significant lows. As a result, Crypto.com price has created a lower low, which could give a bearish outlook at first glance.

Unlike CRO price, however, the Relative Strength Index (RSI) has produced a higher low, indicating the formation of what is known as bullish divergence. This technical phenomenon tends to resolve by propelling the underlying asset’s price higher.

In the case of Crypto.com price, investors can expect CRO to make a run for the immediate barrier at $0.202. Clearing this blockade will allow bulls to ride the trend to the $0.249 hurdle, bringing the total rally to 50% from the current position at $0.167.

CRO/USDT 1-day chart

CRO/USDT 1-day chart

While things are looking optimistic for CRO, a sudden flash crash that pushes the RSI to produce a lower low would undo the bullish divergence.

In such a case, if CRO were to also produce a daily candlestick close below $0.139, it would invalidate the possibility of an uptrend. This development could also trigger Crypto.com price to crash to the $0.093 support floor.


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

Coinbase’s new SOL staking program won’t save Solana price from this brutal outlook

Coinbase’s new SOL staking program won’t save Solana price from this brutal outlook

Solana price is lacking bullish momentum, which has led to a huge correction. This pullback comes after an impressive recovery rally seen across the entire crypto space. 

More Solana News

Why short-sellers are moving to trade Ethereum price

Why short-sellers are moving to trade Ethereum price

Ethereum price faced rejection after failed attempts to move past a significantly important resistance barrier. This development has led to ETH reversing the trend and returning to a stable support level, which will now decide the fate of the smart contract token.

More Ethereum News

North Korea's Lazarus Group suspected of hacking another top tier cryptocurrency project

North Korea's Lazarus Group suspected of hacking another top tier cryptocurrency project

Blockchain analytics firm Elliptic has found a strong connection between North Korea’s Lazarus Group and the $100 million crypto hack on Harmony’s Horizon Bridge.

More Cryptocurrencies News

Dogecoin price is primed for a significant movement

Dogecoin price is primed for a significant movement

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

More Dogecoin News

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.

Read full analysis