in Coin Price Analysis: CRO resumes bullish momentum, rejected at $0.45

TL;DR Breakdown

  • price analysis is bearish for today.
  • CRO/USD spiked to $0.45.
  • Selling pressure returned over the past hours. Coin price analysis is bearish today as the market was met with heavy selling pressure after a quick spike to $0.45. Therefore, we expect CRO/USD to reverse and retrace lower again later today. Coin Price Analysis: CRO resumes bullish momentum, rejected at $0.45 1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market traded mostly with bullish momentum over the last 24 hours. Bitcoin gained slightly over 6 percent, while Ethereum up by 3.09 percent. Meanwhile, Coin (CRO) is among the top performers, gaining over 16 percent. price movement in the last 24 hours: regains bullish momentum after finding support at $0.32

CRO/USD traded in a range of $0.3485 – $0.4232, indicating strong volatility over the last 24 hours. Trading volume has increased by 191.37 percent and totals $895.9 million, while the total market cap trades around $10.225 billion, ranking the coin in 23rd place overall.

CRO/USD 4-hour chart: CRO rejecting further upside, another retracement to follow?

On the 4-hour chart, we can see selling pressure returning as soon as the coin price reached the $0.45 mark, indicating further downside will follow later today. Price Analysis: CRO resumes bullish momentum, rejected at $0.45
CRO/USD 4-hour chart. Source: TradingView Coin price has seen strong growth at the beginning of November. With the bullish momentum beginning late November, CRO/USD saw exponential growth during the first of last week, leading to a new all-time high set at $0.50.

However, strong rejection followed, pushing CRO to the $0.32 mark, meaning a retracement of around 35 percent. Recovery started late yesterday, with a rapid upside momentum overnight, leading CRO/USD to the $0.45 mark.

Strong selling pressure resumed from there, pushing the Coin price back lower. Currently, we see the $0.40 mark tested, with further downside likely to follow as selling pressure persists. Price Analysis: Conclusion price analysis is bearish for today as we expect another retracement after strong selling pressure returned after a test of the $0.45 mark. Therefore, CRP/USD is likely headed lower toward the previous support at $0.32.

While waiting for to move further, read our guides on NFT tokens, Gemini Exchange Review, and Sunacrip.

Disclaimer. The information provided is not trading advice. holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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