- CRO price consolidates the lower half of a parallel trend channel
- Crypto.com’s Price Action Sideways Means Falling Nature
- The downtrend invalidation is a breach and closes above $0.21
Crypto.com’s price is in question as bulls struggle to post bullish price action.
Crypto.com Price Offers Recount
Crypto.com price has traders wondering if the number of waves is correct, as sideways price action distorts proportionally in time. The consolidations that occurred as part of the sharp drop from $0.44 were generally quick. Crypto.com price is overloading consolidation time ratios which means an explosive rally. Will the bears defeat the consolidation?
Crypto.com price hints at the possibility of further decline as bulls provide support just above the lower half of the parallel channel. Usually, consolidations that take an abnormally long time to develop build the strength needed to break through substantial trend barriers. If this scenario occurs, the bears could send Crypto.com price to $0.11, a 40% drop from the current price of $0.1885.
Invalidation of the bearish decline is a breach at $0.21. If the bulls can produce a battle in the $0.21 level, they could end up on top and. And hence, fetch the $0.24 price zone for a 30% increase from the current Crypto.com price.