January 17, 2022

Crypto.com continues to look weak, CRO could fall another 20%

  • Crypto.com price remains under considerable pressure after Thursday’s selling.
  • Muted to zero recovery during the Friday trading session.
  • A deeper retracement may be ahead for CRO.

Crypto.com price action looked extremely bullish and optimistic on Tuesday and Wednesday, closing more than 10% higher. Thursday, however, saw persistent selling pressure, with the close of the day equalling the low. Friday’s price action has been remarkably flat, but the directional bias remains bearish.

Crypto.com price straddles final support structure before dropping to $0.37

Crypto.com price action is flirting with the idea of driving lower. Participating during the Friday trading session has been very low, with little movement in the overall price range traded. On Thursday, the rejection against the Tenkan-Sen yielded a close below the Wednesday open, signaling a very bearish event. However, bears have not followed through.

The 50% Fibonacci retracement at $0.445…

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