Crypto.com (CRO) has been climbing up for the best part of two weeks now. But the coin faced major resistance at $0.5. However, in today’s intraday trading, the token has surged past that threshold. Are we going to see a serious breakout? The analysis here below but first, some highlights:
At the time of writing, CRO was trading at around $0.5076, up by a whopping 5% in 24 hours.
Bulls must sustain gains above $0.5 to ensure there is decent upward momentum in the coming days.
If indeed this happens, CRO could rise by at least 25% in the near term.
Data Source: Tradingview.com
Crypto.com (CRO) – Price action and analysis
Although most crypto assets have all been rising in February, CRO has rebounded faster than expected. After breaking the downtrend in January, the coin has now surged into a full bull market.
Crossing the $0.5 resistance was crucial for near-term gains. At the time of writing, CRO had surged past this level. This suggests that there is enough bullish momentum to push the token even further. Some analysts are looking at $0.7 as the next stop for CRO. This will represent an upswing of about 50% from the current price.
However, if bulls are not able to find sufficient demand to keep the price action above $0.5, CRO could fall back and consolidate at its next support level of $0.4.
Why CRO is a good buy now
Crypto.com (CRO) is one of the few coins in a bull market right now. While some coins have recovered from the January slump, they still have a lot of weaknesses.
But CRO is different and as such, it is a great choice for short-term and long-term investors. Besides, Crypto.com has done quite well to increase its presence around the world. This will ultimately have positive effects on its native token CRO.
The post Crpto.com surges past crucial resistance zone – Here is why the token could swing upwards by 25% appeared first on Coin Journal.
