- The Crypto.com token is showing a triple bottom formation at $0.441, which indicates an upward trend is on its way.
- Investors can expect the CRO to retest $0.512 and face a slowdown before hitting the 21% target at $0.562.
- A breakdown of the $0.384 support level will invalidate the bullish theory.
Crypto.com price is trading around a huge range of support levels which indicates that the downside risk is limited. Buying pressure doesn’t seem to have set in yet, but investors can expect CROs to see a sharp rise toward critical hurdles.
Crypto.com is looking to even higher
Crypto.com created triple swing lows around the $0.441 support bottom since January 8th, creating a triple bottom reversal pattern. This setup predicts that the downtrend is coming to an end and that the uptrend will start soon.
This bullish theory is supported by its formation in the daily demand area, extending from $0.384 to $456. Therefore, investors should expect the CRO to see a rapid rise in buying pressure pushing it to the immediate resistance barrier at $0.512.
If buyers band together, there’s a good chance the Crypto.com token will flip this hurdle into a support floor that will facilitate the next stage of the rally. The weekly resistance line at $0.562 will be the next target for the bulls, a 21% rise from the current position.
CRO / USDT 4-hour chart
Regardless of the bullish outlook and the strong support level below the current position, Crypto.com should be wary of a market crash. If such a potential sudden breakdown hits the CRO to produce a four-hour candlestick close below the $0.384 support level, it will create a lower low and invalidate the bullish hypothesis.