– The bull trend has been invalidated, and bears are targeting $0.11, which would result in a 13% decrease from the current Crypto.com price.
– Crypto.com price is currently at $0.1286, and traders who participated in last week’s bullish trade setup are in profit 10%.
– The bulls broke and retested the 8- and 21-day simple moving averages (SMAs) over the weekend, suggesting that the bullish trend is still intact.
– Bears may want to wait for the bottom end of the trend line to get breached at $0.12 before shorting.
– Crypto.com price is ascending in a wedge-like formation, which may prematurely entice bears to open short positions.
– Although the technicals display questionable bullish evidence, traders should stay with the uptrend as wedge-like patterns can also result in extreme liquidity spikes.
– If the crypto market is genuinely bullish, the second attempt at the $0.1320 price zone could be the catalyst to an additional 20% gain for CRO price, targeting $0.1575.