Why the CRO price will be hard to hodl
|- Crypto.com price consolidates just above a previous bullish entry point.
- An 8-day simple moving average hover just below current price action
- Invalidation of the trend is a breach below $0.12
Cypto.com price remains in profit from this week’s bullish setup. Still, a liquidation is possible.
CRO price faces turbulence
CRO price witnesses back and forth price action to end the third trading week of July. On July 18, a bullish thesis was forecasted with the possibility of extended targets in the $0.15 zone
Crypto.com price ascended 10% before facing a sharp rejection near the $0.14 barrier. Traders who partook in the action are back to square one as CRO price hovers just above the breakeven entry point at $0.1311.
CRO price is still bullish in the short term, but a liquidation targeting the $0.12 zone is on the cards. A break below the 8-day moving average at $0.1280 could be the catalyst to promote the bearish market conditions
Invalidation of the uptrend is at $0.12. A breach of this level could give bears the power to target $0.10 resulting in a 20% decline from the current Crypto.com price.
In the following video, our analysts deep dive into the recent price action of CRO analyzing key levels of interest in the market. -FXStreet Team
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