|

Why the Crypto.com price remains suppressed and what it will take to recover losses

  • Crypto.com price trades below a descending trend channel.
  • The Volume Profile indicator shows no sign of a bullish reversal.
  • Early Invalidation of the downtrend could be a breach above $0.14.

Crypto.com is still a guessing game. Being an early bull can lead to detrimental losses. 

Crypto.com price has bulls disengaged

Crypto.com price is in an unfortunate position. Since the sell-off from April highs at $0.50, the bulls have seen no pullbacks worth selling their losing investment into. The Crypto.com price has consolidated and declined for months with no retaliation from the bulls. In short, investors are avoiding engagement with cryptocurrency exchange tokens. If market conditions persist (based on a lack of upward volume), an additional 30% decline to $0.08 will be unsurprising.

Crypto.com price currently trades at $0.11, nearly 80% below the April highs. The bears managed to send CRO price below a descending channel and successfully conquered a retest of the channel during the final days of June. The CRO price currently stands just below the channel, which may inevitably lead to a second retest in the coming days. 

tm/cro/7/4/22

CRO/USDT 2-Day Chart

Investors at a loss still holding the CRO price may want to consider holding out a bit longer, as a second retest could create the volatility needed to raise the CRO price. Confirmation of an uptrend rally can occur if the bulls manage to conquer the $0.14 zone. If this bullish event happens, a rally towards $0.28 could result in a 150% increase from the current market value. A rally to $0.28 should be considered a superb opportunity for investors to take profit and/or shave a losing position. 

On the contrary, if the bears manage to breach the $0.10 zone, the bearish target at $0.08 will likely occur.

Author

Tony M.

Tony M.

FXStreet Contributor

Tony Montpeirous began investing in cryptocurrencies in 2017. His trading style incorporates Elliot Wave, Auction Market Theory, Fibonacci and price action as the cornerstone of his technical analysis.

More from Tony M.
Share:

Editor's Picks

XRP defends $1.30 support as Ripple partners with Arf to bring RLUSD settlement liquidity to XRPL

Ripple holds near recently confirmed support at $1.30 on Friday, as bulls eye a short-term recovery toward $1.40. The remittance token’s upside remains capped by structural levels, suggesting recovery would depend on whether buyers can sustain momentum.

Bitcoin Weekly Forecast: BTC extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot ETFs recording $442.67 million in net inflows through Thursday.

Crypto Today: Bitcoin holds the 50-day EMA as Ethereum and XRP face structural resistance

Bitcoin gradually ticks up on Friday, trading above $81,000. The Crypto King has recently defended structural support near $80,000, reinforcing the prevailing bullish outlook. Ethereum similarly edges higher above $2,400, while Ripple trades above $1.32 after testing support around $1.30.

Pi Network holds modest gains as mixed technicals curb upside

Pi Network (PI) price is up 2% on Friday, showing signs of recovery while the broader cryptocurrency market faces near-term weakness. The crypto market sentiment eases to neutral from bullish amid rising long liquidations.

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot Exchange Traded Funds recording $442.67 million in net inflows through Thursday.

Why the Crypto.com price remains suppressed and what it will take to recover losses