Crypto.com (CRO) coin – Sellers are seizing command
Posted on Monday, February 14 2022 at 8:20 pm GMT+0000
Crypto.com (CRO) coin sellers managed to seize command since last Thursday, absorbing the upside pressures on the surface of the Ichimoku cloud and on the 61.8% Fibonacci retracement level of December to January downfall.
The price just slipped below the Tenkan-sen line, while the oscillators are skewed to the downside. The RSI has crawled beneath its ascending trendline, approaching the 50 threshold, and the momentum indicator fell below zero and its moving average, promoting further negative price action.
If selling forces strengthen further, the price will dip towards the flat Kijun-sen line currently seen around 0.43. Any step lower will take the coin until the February 3rd low of 0.39, while a deeper decline could then encounter its next obstruction at the three months’ bottom of 0.32.
On the other hand, if an increase in buying interest overcomes current downward forces, the bulls could get congested once again around the 61.8% Fibonacci retracement at 0.54. Successfully conquering this level, will likely catapult the price to challenge the January 2nd high at 0.59, while another push higher could face the 0.69 peak printed on December 24.
In brief, CRO’s long-term descent seems to overpower the current bullish thrust, and a decisive close below the Kijun-sen line will bolster the negative picture. Only a price climb above 0.54 could feed optimism that the latest drive could see further continuation.
