- Crypto.com price will likely drop to $0.1062 before bouncing back.
- Whales increase pressure on CRO amid prolonged selling spree.
- The on-chain IOMAP model cites resistance for traders at $0.1250 and $0.1355, respectively.
Crypto.com’s price struggles with high volatility alongside other cryptocurrencies in the market. Following its rejection of massive seller congestion at $0.1562, CRO slowed the drop to around $0.1150. If this buyer congestion zone does not hold, Crypto.com price could retest June lows at around $0.1062 before lining up for another bounce.
Crypto.com Price Brews Another Freefall
Crypto.com’s price pressure is mostly attributed to selling activity, especially from high-volume investors. According to Santiment’s Supply Distribution metric, addresses with 1 million to 10 million tokens fell to 1,025 from 1,125 in the past six months.
Crypto.com Supply Distribution
This chart also highlights the negative influence of this cohort of investors on the price. In other words, an immediate recovery may be a pipe dream for CROs unless investors dramatically reverse their bullish sentiment.
Additionally, ITB (IntoTheBlock) reveals strong resistance in the region ranging from $0.1232 to $0.1267. Around 4,500 addresses have previously purchased around 76.74 million CRO tokens in the range.
Traders need to pull their socks up to get through this seller congestion. Investors may consider selling at their respective breakeven points, which may trigger another selloff.
Read more: Crypto.com coin sees traders pull out of CRO as global market turmoil hits Defcon 1
Crypto.com’s IOMAP model
A look to the upside indicates a second fundamental resistance between $0.1334 and $0.1373. According to the IOMAP cohorts, around 1,500 addresses purchased around 105 million tokens in the region. This indicates that conservative traders may choose to take profits between $0.1232 and $0.1302 to avoid risking accumulated gains.
CRO/USD daily chart
Crypto.com price is dependent on buyer congestion at $0.1150 to combat the build up of selling pressure. The Directional Movement Index (DMI) collaborates with the Relative Strength (RSI) to assert that the CRO downtrend is far from over.
The bearish divergence of the RSI against the price of the CRO indicates that another decline is imminent. As for the DMI, the position of the -DI above the +DI confirms Crypto.com’s price predictions at $0.1062.
Read more: Crypto.com price is a good buy at these levels for a quick 20% gain
If the buyers hold the CRO price support at $0.1150, a rebound may occur – to shape the gains to $0.1562. Before marking this resistance level, buyers need to prove their ability to disperse relatively minor hurdles at $0.1250 and $0.1406. Both of these levels can be considered viable exit positions by traders looking to take early profits.
We want to say thanks to the author of this write-up for this outstanding web content
Crypto.com Price Prediction: CRO in Serious Danger This Week as All Eyes on $0.1062 | Cryptocurrency
Find here our social media profiles as well as other pages related to it.https://metfabtech.com/related-pages/