- Crypto.com price has seen a massive uptick in sellers' volume on the 9-Hour chart.
- CRO price has yet to retest the throwback of the breached trend line, currently $0.34.
- Invalidation of the bearish downtrend is a spike above $0.45.
Crypto.com price has seen a considerable sell-off to start the week. Though newer investors may be startled, the CRO price signals more declines in the coming days.
Crypto.com price has strong bearish momentum
Crypto.com price action has been one of the more pleasing cryptocurrencies amongst professional traders as the price action has been synergistic with classical-style trading methods. Last month, analysts documented multiple sell signals around the $0.50 zone. In retrospect, the bears thoroughly fueled the early sell signals as the price has fallen 18%.
Crypto.com price has more bearish confluence as the price has ultimately surged past the initial bearish target of $0.44. CRO price currently trades at $0.404 and is on a steep declining slope. The volume profile indicates added fuel to the bearish momentum on the 9-hour chart. Likely, Smart Money is unwilling to negotiate at the current CRO price and could be waiting for a retest of the breached trend line at $0.34.
CRO/USD 9 Hour Chart
Invalidation of the bullish downtrend will be considered if the bulls can push the CRO price back above $0.45. If this scenario were to occur, the bulls could potentially re-tackle the $0.50 zone, resulting in a 25% increase from the current Crypto.com price.