- Crypto.com is consolidating after a 50% rise in January.
- A 50% surge to $0.12 is possible if traders maintain their support.
- The state of the uptrend depends on the remaining unlabeled $0.054.
Crypto.com’s price is something to keep a close eye on. After an impressive 50% gain seen earlier this month, technical data suggests further uptrend gains could occur in the coming weeks.
Crypto.com price has higher targets to reach
The price of Crypto.com should remain on the watch list of traders as the technical data suggests there could be more volatility and upward price action in the store. Since January 1, the Ethereum-based exchange token has grown by 50%. CRO is now in its 12th day of consolidation as the bears continue to form resistance around $0.09. A break above the aforementioned level could trigger a 50% rally to liquidate existing liquidity in the fall.
Crypto.com price is currently being auctioned for $0.080. The Relative Strength Index (RSI), an indicator used to gauge trend and potential by comparing trades to previous upswings, shows that the current order is entering a previous resistance zone. As the price of CRO gradually forms higher daily closing candles, a downward RSI may indicate that selling pressure is being absorbed.
In addition, the price of Crypto.com is consolidating above the middle line of the descending parallel channel. The downtrend channel has served as both resistance and support throughout 2021. Based on classic technical analysis, the price of CRO could rise towards the other side of the trend channel around $0.12. The bullish scenario creates a potential 50% increase in the current market value of CRO.
CRO/USDT 1-day chart
For traders looking to enter the market, the uptrend potential depends on the $0.054 low position as support. If the low is breached, CRO could drop to $0.04, causing Crypto.com’s current market value to drop by 50%.