Crypto.Com Is Holding Well on Its Legs for Long Term Uptrend - OhNo "WTF" Crypto

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Crypto.Com Is Holding Well on Its Legs for Long Term Uptrend


Jul 05, 2020 at 09:46 //

Bulls faced a great challenge when CRO reached the overbought region

Crypto.Com bulls have made excellent moves to be out of the bear market. The coin is wholly in a bull market after breaking the last resistance.

In retrospect, buyers have been resilient in their current uptrend. The bulls faced a great challenge when the coin reached the overbought region at $0.0125. 

Buyers were repelled at the overbought region as the market dropped sharply to $0.11 low. The coin rebounded at the recent low to resume a fresh upward move. The price rallied above the resistance but there was a pullback to $0.122. Today, the $0.125 resistance had been broken as the market reached a high of $0.130. The coin is trading now and has reached another overbought region where sellers may emerge.

Crypto.Com indicator reading 

Presently, CRO is above the 80% range of the daily stochastic. It indicates that the market is in the overbought region. In a trending market, the overbought or oversold conditions may not hold. However, in a normal situation, sellers may emerge to push prices down.

CRO-Coinidol (2).png

Key Supply Zones: $0.12, $0.13, $0.14

Key Demand zones: $0.04, $0.03, $0.02

What is the next direction for Crypto.Com?

Crypto.Com has been one of the best performing altcoins. It is now trading in a bull market. The coin price has been making a series of higher highs and higher lows. It is currently in an overbought region. The coin will reach a high of $0.15 if it clears the overbought region.

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.

OhNoCryptocurrency via By Coin Idol, @Khareem Sudlow