Tony M.
FXStreet
Crypto.com price is showing a double scenario. Key levels have been defined to assess the bullish versus bearish scenarios.
Crypto.com price has been trading within a 10% range for nearly two weeks. The $0.08 barrier has consistently acted as resistance, and the mid-$0.07 has acted as support. The coiling range has yet to make a decision on which way it will resolve.
Crypto.com price currently auctions at $0.081. The Relative Strength Index (RSI), an indicator used to gauge market potential by assessing previous rallies, displays mixed signals. For instance, there have been several bearish divergences occurring near the mid-$0.08 zone during the last ten days. However, there's also a bullish divergence between the recent low at $0.075 and the January 5 low at $0.070. The market will eventually provide a solution for the questionable back-and-forth price action. The move will likely result in a volatile move, but being early at an entry is ill-advised.
A break above the $0.08 resistance zone should be enough to promote a 10% rally toward the $0.09 price level. On the contrary, a breach of the recent swing low at $0.76 established on February 1 could induce a 10% swing to the downside, targeting the $0.07 liquidity level.
CRO/USDT 1-day chart
Automatic entries can be placed at both pivot points with an invalidation point on the opposite side of the range. This will be the safest way to ensure traders catch the profitable opportunity without taking unnecessary risks.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Cardano price continues to make gains in the crypto market, as the smart contract has risen 70% since January 1, reaching a new uptrend high at $0.4138. Despite the skeptical market sentiment for risk assets, Cardano’s Price action remains unfazed.
Algorand price is showing an applaudable amount of strength to start the month of February. The scalable blockchain token could rally an additional 25% if market conditions are met.
Crypto.com price has been trading within a 10% range for nearly two weeks. The $0.08 barrier has consistently acted as resistance, and the mid-$0.07 has acted as support. The coiling range has yet to make a decision on which way it will resolve.
Terra Classic (LUNC) could only book roughly a 1.4% gain on the back of the Federal Reserve meeting from late Wednesday, which triggered upswings in all risk asset classes. The biggest winner of the evening was EUR/USD, as it traded over 1% higher and broke 1.10 to the upside.
Bitcoin price shows a lack of momentum after an explosive move in the last three weeks. The fourth week has been relatively silent, without a lot of volatile moves. While BTC consolidates, other altcoins are rallying left and right, providing massive gains.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and omissions may occur. Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, clients or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
