Crypto.com Price in Trouble as Ready for 12% Technicals Correcton

Crypto.com price is offering significant sell signals. Traders should proceed with caution.

• Crypto.com price may have printed a 5th wave impulse.
• CRO price has a substantial RSI divergence.
• Invalidation for the bearish thesis will be a close above $0.492

Crypto.com price is setting up for a sharp move down

Crypto.com price has been displaying multiple bearish signals in recent days. Some analysts at GSR (GoldSilverReports) began closing their positions on CRO price amidst last week’s bearish divergence. This week, Crypto.com price adds more confluence that the impulsive rally might be over. There is evidence of a 5th wave rally ending at $0.484 on the 6-hour chart. The impulsive rally has a higher settling price than the consolidation prior, but there is substantial divergence on the Relative Strength Index.

Crypto.com price could be due for a significant correction into the 50% and 61.8% Fibonacci levels at $0.43 and $0.41 if the Elliot Wave analysis is correct. It is worth noting that very sharp declines usually follow 5th wave failures. Thus, investors may get caught sleeping at the wheel. The best scenario for CRO optimists will be to trail stop losses under the swing low at $0.44 to secure some profit from last month’s successful buy setups. Traders late to the party should stay away, as every investor comes to realize, “some gains are better than no gains, and no gains are better than some losses.”

CRO/USD 6-Hour Chart

Invalidation of the bearish thesis on Crypto.com price will be a closing candle above $0.4919. If this scenario occurs, the bulls should have enough strength to take out liquidity in the $0.51 and $0.53 levels resulting in a 12% increase from the current Crypto.com price.

• Crypto.com Suspends Withdrawals After ‘Unauthorized Activity’
• IndusInd Bank Q4 Net Profit Matches Estimates In Q4
• US Crude Oil Next Expected Resistance & Target $60.00 – Gold Silver Reports
• Gold Prices Slip for First Time in 4 days, Silver Rates Fall
• RBI Annual Report 2019-20: Economy To Grow, Inflation To Ease By Q4FY21

सोशल मीडिया अपडेट्स के लिए हमें
Facebook ( https://www.facebook.com/goldsilverreports/ )
linkedin (https://www.linkedin.com/in/nealbhai/ )
 और Twitter ( https://twitter.com/goldsilverrepor ) पर फॉलो करें।

हमारी फ्री सर्विस और लोगो की paid सर्विस से कई गुना अच्छी है।
आपको हर दिन दिए जाएंगे 3 से 5 कॉल बिलकुल फ्री
हर CALL में PROFIT दिये जायेंगे
तो जल्दी से MCX CHANNEL को JOIN कर लो (NEAL BHAI REPORTS)
JOIN US CLICK HERE

EQUITY CHANNEL को JOIN कर लो (EQUITY FREE TIPS)
JOIN US CLICK HERE