- Crypto.com price has fallen 20% since August 20.
- On-Chain metrics show a consistent reduction of CRO tokens on exchanges.
- The safest way to confirm an uptrend is a breach of $0.15 with an influx of volume.
Crypto.com price shows mixed signals going into the end of August. The technicals suggest bears are in control, but On-Chain metrics hint that the final bottom may be near.
CRO price could be near a bottom
Crypto.com price may be a token worth adding to your watch list as the digital exchange shows an interesting set of information. The technicals show a slight uptick in volume amidst the 35% rally this summer. On August 20, the entire crypto market witnessed a sharp sell-off. CRO price lost 20% of its market value; however, the volume shows a very sparse amount of transactions. This could indicate that smart money is holding the digital currency despite the sell-off.
Crypto.com price currently auctions at $0.13. On-chain analysis tools confound the idea that CRO price may soon find a floor. Santiment’s daily active addresses have declined since the all-time highs occurred in December of 2021 at $0.59. Additionally, the Supply on Exchanges indicator shows a tapering effect as well. Currently, 1.85 billion tokens are on all exchanges, which is 8 billion less than when CRO traded less than a penny in 2020.
Santiment’s Supply on Echanges, Price, & Daily Active Addresses
When combined, CRO price could fool day traders in the coming days. Still, investors should consider a reactionary approach when dealing with the CRO price. The safest confirmation of gains will be a breach of $0.15. If the bulls can hurdle this barrier, they could induce a rally towards $0.26 in the short term, resulting in a near 100% increase from the current Crypto.com price.
In the following video, our analysts deep-dive into Bitcoin's price action, analyzing key levels of interest in the market - FXStreet Team
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto Today: BNB, OKB, BGB tokens rally as BTC, Shiba Inu and Chainlink lead market rebound
Cryptocurrencies sector rose by 0.13% in early European trading on Friday, adding $352 million in aggregate valuation. With BNB, OKB and BGB attracting demand amid intense market volatility, the exchange-based native tokens sector added $1.9 billion.
US SEC may declare XRP a 'commodity' as Ripple settlement talks begins
The US SEC is considering declaring XRP as a commodity in the ongoing settlement talks with Ripple Labs. FOX News reports suggest Ethereum's regulatory status remains a key reference for XRP’s litigation verdict.
Cardano Price Prediction: ADA could hit $0.50 despite high probability of US Fed rate pause
Cardano price stabilized above $0.70 after posting another 5% decline in its 3rd consecutive losing day. Multiple ADA derivatives trading signals are leaning bullish, but the US trade war impact outweighs the positive shift in inflation indices.
Stablecoin regulatory bill receives green light during Banking Committee hearing
The US Senate Banking Committee voted on Thursday to advance the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which aims to establish proper regulations for stablecoin payments in the country.
Bitcoin: BTC at risk of $75,000 reversal as Trump’s trade war overshadows US easing inflation
Bitcoin price remained constrained within a tight 8% channel between $76,000 and $84,472 this week. With conflicting market catalysts preventing prolonged directional swings, here are key factors that moved BTC prices this week, as well as key indicators to watch in the weeks ahead.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.