The cryptocurrency sector has been experiencing consistent uncertainty; but, over the last few days, the instability has decreased, resulting in a consolidation period for several of the altcoins. Crypto.com Coin was following a similar pattern, with the price actually fluctuating between $0.2046 and $0.2212.
CRO was valued at $0.2103 at the time of publication, with a market capitalisation of $5.77 billion.
Crypto.com Coin 6-hour chart
According to the above map, the CRO market experienced strong volatility in mid-March, after which the price started to move sideways.
At the time of publication, the variance had significantly decreased, and the price was severely limited and rangebound.
The Bollinger Bands reflected this dropping uncertainty and seemed to have ballooned in mid-March, but the band has since begun to converge. CRO experienced lower uncertainty during April, and it is now trading within a narrow price band.
This pattern was confirmed by the relative strength index measure, which suggested that the asset was in a state of equilibrium. This meant that the market’s purchasing and selling forces had been balanced, and traders were holding the price at its current pace.
However, the signal line and the 50 moving average were moving above the candlesticks, signalling that the market was becoming more bearish. As a result, the price of CRO has remained stable at this stage, and as market momentum weakens, the coin’s value will shift to the negative side. The market had been constrained by the combination of low volatility and limited momentum. Although the amazing oscillator was optimistic, it was about to flip to the negative side, suggesting that sellers’ momentum was growing.
The new CRO market price has stayed stable at $0.21, although opposition and support have remained close. A sudden spike in volatility, on the other hand, might reverse this pattern for CRO.
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