Crypto.Com Is Holding Well on Its Legs for Long Term Uptrend

Jul 05, 2020 at 08:46 // News
Coin Idol
Bulls faced a great challenge when CRO reached the overbought region

Crypto.Com bulls have made excellent moves to be out of the bear market. The coin is wholly in a bull market after breaking the last resistance.

In retrospect, buyers have been resilient in their current uptrend. The bulls faced a great challenge when the coin reached the overbought region at $0.0125. 

Buyers were repelled at the overbought region as the market dropped sharply to $0.11 low. The coin rebounded at the recent low to resume a fresh upward move. The price rallied above the resistance but there was a pullback to $0.122. Today, the $0.125 resistance had been broken as the market reached a high of $0.130. The coin is trading now and has reached another overbought region where sellers may emerge.

Crypto.Com indicator reading 

Presently, CRO is above the 80% range of the daily stochastic. It indicates that the market is in the overbought region. In a trending market, the overbought or oversold conditions may not hold. However, in a normal situation, sellers may emerge to push prices down.

CRO-Coinidol (2).png

Key Supply Zones: $0.12, $0.13, $0.14

Key Demand zones: $0.04, $0.03, $0.02

What is the next direction for Crypto.Com?

Crypto.Com has been one of the best performing altcoins. It is now trading in a bull market. The coin price has been making a series of higher highs and higher lows. It is currently in an overbought region. The coin will reach a high of $0.15 if it clears the overbought region.

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.

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