Crypto.com Coin Price Analysis: CRO drops to 0.44, more downside to follow today?

TL;DR Breakdown

• Crypto.com Coin price analysis is bearish today.
• CRO/USD set another lower low at $0.44.
• Retracement to retest $0.46 seen overnight.

Crypto.com Coin price analysis is bearish today as we expect more downside to follow after the $0.46 previous low was retested as resistance overnight. Likely CRO/USD is now ready to drop again and continue with the overall several-day bearish momentum.

The market has seen selling pressure return over the last 24 hours. The market leaders, Bitcoin and Ethereum, are both in the red, with a loss of 0.28 and 2.75, respectively. Crypto.com Coin (CRO) follows, with a loss of over 3 percent.

Crypto.com Coin price movement in the last 24 hours: Crypto.com Coin sets another lower low before retesting $0.46 as resistance

CRO/USD traded in a range of $0.4423 – $0.4762, indicating substantial volatility over the last 24 hours. Trading volume has declined by 0.21 percent, totaling $187 million. Meanwhile, the total market cap trades around $11.56 billion, ranking the coin in 17th place overall.

CRO/USD 4-hour chart: CRO looks to continue lower?

On the 4-hour chart, we can see selling pressure slowly returning for the Crypto.com Coin price action, likely leading to further lows reached over the next 24 hours.

Crypto.com Coin price has seen more downside this week. After previously recovering to $0.59, selling pressure returned on the 4th of January, with a strong spike lower a day later.

Since then, CRO/USD has lost 25 percent to the $0.44 mark. Likely bears are now getting exhausted, meaning a reversal could be seen next week.

However, for now, bears still dominate as we have seen only a slight reaction from the $0.44 support. The Crypto.com Coin price found resistance at $0.46 previous support, which will likely lead to another drop over the next 24 hours.

Crypto.com Coin Price Analysis: Conclusion 

Crypto.com Coin price analysis is bearish today as we expect more downside to follow after a slight retracement to $0.46 previous local support. CRO/USD is now ready to test even further downside as the overall trend is still heavily bearish.

While waiting for Crypto.com Coin to move further, see our articles on Coinbase Vault vs Wallet, Cardano price prediction, and crypto tax-loss harvesting.