Crypto.com price is up by a percentage point in today’s trading session, extending yesterday’s price rally by 4 percent. The session’s gains are also an extension of the long-term bullish trend that has continued to dominate crypto.com trading.
Crypto.com The cryptocurrency is the original token of the Cronos blockchain, an open source decentralized network developed by Crypto.com. Being the original blockchain currency linked to one of the largest exchanges, Crypto.com has grown into one of the largest cryptocurrencies, with a market capitalization of $3.8 billion. It is also ranked as the top 25 cryptocurrency based on its market capitalization.
The chart below shows that the price of Crypto.com has been strongly bullish over the past few weeks. As of July 26, prices are up 32 percent to trade at the current price of $0.15. During that time, Crypto.com also set a new high for the month, $0.1600, with prices failing to get back to that level again, and instead dropping to the $0.147 support level.
The current rally to the upside is a bounce from the $0.147 support level, with today’s trading session extending the strong upward movement. Therefore, I expect the current strong uptrend to continue in the next few trading sessions. It is very likely that we will see prices hit and trade above the $0.160 resistance. The current price action also shows that we may reach the $0.167 price level.
However, if the price trades below yesterday’s low of $0.142, my bullish analysis will be invalidated. It will also mean that the strong uptrend is most likely over, and as a trader, this will be a signal for either a move to the downside or a sideways market.
CRO Daily Chart