CROUSDT.P trade ideas
Crypto.com vs Bitcoin and GoldJust more proof that Crypto.com is making huge strides; this shows CRO (red and teal), MCO (green) BTC (white) and Gold (yellow) in dollars since the pandemic and resulting market meltdown. (I'm a newb, take this for what it is, an ADD-borne musing xD).
Warning A huge mouvement is coming !
Probablement un gros mouvement baissier, mais je support la possibilité de la hausse.
Crypto.com Chain - Overbought bullCROUSDT is at a good technical point.
It's the first time since it's been on Coinbase, it has reached overbought levels (RSI(10) over 70)
I would assume this technical trend is especially important for cryptocurrencies.
Crypto.com Chain Price Analysis CRO / USD: Rolling DownhillFundamental Analysis
CRO is attempting to hold strong by continuing to get listed in exchanges. Last month the project was listed on Bithumb and Bibox, while a week ago the project announced its listing on OKEx. The trend will likely continue which will further add liquidity and drive demand for the token, though market dynamics are rolling back the temporary gains.
Crypto.com Chain / USD Short-term price analysis
Crypto.com Chain has a bearish short-term trading bias, with the CRO / USD pair falling below key technical support on the four-hour time frame.
The four-hour time frame is showing that the CRO / USD pair is coming under increasing technical selling pressure after falling below a neutral triangle pattern.
Technical indicators on the four-hour time frame are attempting to recover, but still remain bearish.
Pattern Watch
Traders should note that the April 2019 trading low is the overall downside target of the bearish triangle breakout.
Relative Strength Index
The Relative Strength Indicator on the four-hour time frame is attempting to move higher, but remains technically bearish.
MACD Indicator
The MACD indicator is attempting to recover higher, but still remains bearish on the four-hour time frame.
Crypto.com Chain / USD Medium-term price analysis
Crypto.com Chain has a bearish medium-term bias, with the CRO / USD pair continuing to erode its recent strong trading gains.
The daily time frame shows that the CRO / USD pair is trading in the middle of a descending price channel, following a strong technical rejection from the top of the channel.
Technical indicators across the daily time are turning lower and continue to generate a sell signal.
CRO / USD Daily Chart by TradingView
Pattern Watch
Traders should note that descending price channels are typically considered to be bullish patterns.
Relative Strength Index
The RSI indicator is bearish on the daily time frame and continues to trend lower.
MACD Indicator
The MACD indicator is bearish on the daily time frame and is currently generating a sell signal.
Conclusion
Crypto.com Chain is continuing to erode its recent strong gains, with the bearish breakout on the four-hour time frame weighing on the CRO / USD pair’s short-term technicals.
The daily time frame shows that sellers may be preparing to test the bottom of the descending price channel for a key test of overall demand.
Crypto.com Chain Price Analysis CRO / USD: Holding The CardsFundamental Analysis
Crypto.com Chain has surged after the company announced that it’s planning to launch its U.S. Visa card in partnership with Metropolitan Commercial Bank on July 14, 2019. This will further increase the project’s user base, which should positively affect the demand for the CRO token.
Crypto.com Chain / USD Short-term price analysis
Crypto.com Chain has a neutral short-term trading bias, with the CRO / USD pair falling back towards key technical support.
The four-hour time frame is showing that the CRO / USD pair has reversed sharply lower after bulls failed to invalidate a large head and shoulders pattern.
Technical indicators on the four-hour time frame are starting to appear overstretched.
Pattern Watch
Traders should note that the short-term trend will turn bearish if price starts to trade below the CRO / USD pair’s 200-period moving average on the four-hour time frame.
Relative Strength Index
The Relative Strength indicator on the four-hour time frame is turning lower and attempting to correct from overbought conditions.
MACD Indicator
The MACD indicator on the four-hour time frame is still bullish, although it is starting to appear overstretched.
Crypto.com Chain / USD Medium-term price analysis
Crypto.com Chain has a neutral medium-term outlook, with the CRO / USD pair so far unable to perform a bullish technical breakout.
The daily time frame shows that the CRO / USD pair remains trapped within a descending price channel, with bulls unable to hold price above trendline resistance.
Technical indicators across the daily time frame continue to generate a buy signal.
CRO / USD Daily Chart by TradingView
Pattern Watch
Traders should closely monitor daily price closes around trendline resistance for confirmation of valid bullish breakout.
Relative Strength Index
The RSI indicator is neutral on the daily time frame is bullish and continues to generate a buy signal.
MACD Indicator
The MACD indicator is bullish on the daily time frame and is generating a buy signal.
Conclusion
Both time frames highlight the recent failed technical breakouts, with Crypto.com Chain bulls still unable to hold price above major resistance.
Continued failure around key technical resistance may see sellers start to return, shifting the path of least resistance shift to the downside.
Next Stop 0.12 USDFrom a technical standpoint 12 cents makes cents as a next stop. Higher lows, fibonacci extension tool points to approximately 12 cents.
RSI very oversold. I also think in general this project has a lot of potential. A crypto backed Visa card is an excellent business model.
Launched in Singapore, soon to be released in Asia, Europe and then US markets.
Great potential here.
