CRO predicted a range-bound trend while the instability persisted on the lower side. Monero had failed to sustain a pace above its $225.5 resistance as the bears were asserting their dominance of the stock. At last, Ontology flipped a main resistance line at $1.05, but seemed impossible to hang on to the above in the next few trading sessions.
Crypto.com Coin [CRO]
The psychological effect of Bitcoin’s hike to its newest ATH at the end of February was monumental for the wider crypto-market. Altcoins such as Crypto.com Coin, which had been silent since the beginning of 2021, jumped by 62 per cent on a single day after the King’s coin rose to the north of the 58,000-level. However, the same was true in both forms, and CRO recorded a loss of more than 30% the very next day after Bitcoin had been corrected on the map.
Since then, CRO has entered the accumulation era, mostly trading between $0.16 and $0.1.44, as neither side has been able to claim market supremacy. At the time of publishing, the Bollinger Bands were constrained and reported low price volatility. The ADX rested about the 10-mark and repeated the state of balance in the CRO industry. In the short term, CRO will begin to drift sideways as it expects better signals from the wider market.
Despite many attempts, Monero’s bulls were unable to climb above the coveted resistance of $225.5, with the stock lowering each time after hitting the upper ceiling. The lack of interest on purchases may be one of many reasons that adversely affected off-late prices. The same thing was apparent in the On Balance Volume after it had formed lower lows after XMR had dropped from a local peak of nearly $280.
Press time downtrend have set the bulls at risk of losing to the 200-SMA. In addition, the MACD line moved below the Signal line and highlighted the bearish market conditions. Further sale at the press time price level could bring the $168.9 help under the spotlight.
The increase of more than 11 per cent in the last 24 hours has allowed Ontology’s bulls to shift the critical support level to $1.05, a point that has not been broken since a strong pullback in the wider market nearly two weeks ago. The green bars of the Awesome Oscillator began to climb past the half-mark as the momentum settled with the customers. What needs to be seen is whether bulls can keep the price going, given the consolidated essence of Bitcoin.
The Stochastic RSI was swift to offset any excitement and favoured a short-term pull back from the over-purchased zone.
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