Why the Crypto.com price remains suppressed and what it will take to recover losses
- Crypto.com price trades below a descending trend channel.
- The Volume Profile indicator shows no sign of a bullish reversal.
- Early Invalidation of the downtrend could be a breach above $0.14.
Crypto.com is still a guessing game. Being an early bull can lead to detrimental losses.
Crypto.com price has bulls disengaged
Crypto.com price is in an unfortunate position. Since the sell-off from April highs at $0.50, the bulls have seen no pullbacks worth selling their losing investment into. The Crypto.com price has consolidated and declined for months with no retaliation from the bulls. In short, investors are avoiding engagement with cryptocurrency exchange tokens. If market conditions persist (based on a lack of upward volume), an additional 30% decline to $0.08 will be unsurprising.
Crypto.com price currently trades at $0.11, nearly 80% below the April highs. The bears managed to send CRO price below a descending channel and successfully conquered a retest of the channel during the final days of June. The CRO price currently stands just below the channel, which may inevitably lead to a second retest in the coming days.
CRO/USDT 2-Day Chart
Investors at a loss still holding the CRO price may want to consider holding out a bit longer, as a second retest could create the volatility needed to raise the CRO price. Confirmation of an uptrend rally can occur if the bulls manage to conquer the $0.14 zone. If this bullish event happens, a rally towards $0.28 could result in a 150% increase from the current market value. A rally to $0.28 should be considered a superb opportunity for investors to take profit and/or shave a losing position.
On the contrary, if the bears manage to breach the $0.10 zone, the bearish target at $0.08 will likely occur.
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