The Cryptocurrency CRO, the token of the Crypto.com exchange, has had to undergo a correction of several months this year despite a return of + 500%.
CRO / USD monthly chart
The monthly chart has favored bulls for the past few months, but the TD Sequential Indicator has just given a strong sell-signal.
According to the IOMAP chart, there is a huge resistance level around $ 0.17 but not much higher resistance. There is a small support point at $ 0.166, then a stronger point at $ 0.162. The price for CRO has already fallen below both levels, hitting $ 0.142, which is now the lowest level of support.
Despite the strong selling pressure, the number of token holders has dropped from at least 1,000,000 tokens from 43 on August 21 to 55 today. Likewise, the number of whales with 10,000,000 or more tokens has increased from 82 to 86. This metric suggests that despite the risk of a significant correction, the whales are still clustering.
The number of new addresses is also increasing. There was a massive spike of 987 new addresses on September 11th, and although that number has now fallen, the general trend is still clearly upward.
CRO / USD daily chart
On the daily chart, sellers managed to push the price below multiple support levels of $ 0.1441. However, the rebound in the MA100 was strong enough to push the price of the CRO back above the MA50. The closest resistance level is at $ 0.169 as can be seen from the IOMAP chart. However, if buyers can break this level, the CRO can quickly jump towards $ 0.1835 and return to its all-time high.
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Article by Lorenzo Stroe, FXStreet, see »Article in English
Disclaimer: The information and opinions contained in this report are for general information only and do not constitute an offer or an invitation to buy or sell currency contracts or CFDs. Although the information contained in this document comes from sources believed to be reliable, the The author does not guarantee its accuracy or completeness and accepts no responsibility for any direct, indirect or consequential damages that arise from the fact that someone relies on such information.
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