Why the CRO price will be hard to hodl

Crypto.com price consolidates just above a previous bullish entry point.
An 8-day simple moving average hover just below current price action
Invalidation of the trend is a breach below $0.12

Cypto.com price remains in profit from this week’s bullish setup. Still, a liquidation is possible.

CRO price faces turbulence

CRO price witnesses back and forth price action to end the third trading week of July. On July 18, a bullish thesis was forecasted with the possibility of extended targets in the $0.15 zone

Crypto.com price ascended 10% before facing a sharp rejection near the $0.14 barrier. Traders who partook in the action are back to square one as CRO price hovers just above the breakeven entry point at $0.1311.

tm/cro/7/22/22

CRO price is still bullish in the short term, but a liquidation targeting the $0.12 zone is on the cards. A break below the 8-day moving average at $0.1280 could be the catalyst to promote the bearish market conditions

Invalidation of the uptrend is at $0.12. A breach of this level could give bears the power to target $0.10 resulting in a 20% decline from the current Crypto.com price.

In the following video, our analysts deep dive into the recent price action of CRO analyzing key levels of interest in the market. -FXStreet Team

Share: Cryptos feed

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.