KONSKIE, POLAND - November 18, 2018: Crypto.com (MCO) cryptocurrency logo displayed on smartphone
In today’s trading session, CRO is up by two per cent, marking a second consecutive day that the crypto is on the rise. The CRO price has also been in a long-term bullish trend since July 13, and it is looking highly likely that we will see the trend continue for the next few trading sessions.
Part of the reason why CRO has been on the rise is due to the recent resurgence of the cryptocurrency markets. Coming into July, the industry had entered a bearish trend as a result of huge misfortunes such as the crash that came after Luna and UST fell in May and June’s aggressive push to the downside for almost all cryptocurrencies.
However, things have started to look up in the past few days, and the industry has entered a bullish trend. For instance, the total market capitalization of the cryptocurrency industry has cracked the $1 trillion valuation again.
With the crypto industry markets on the rise, CRO and other cryptocurrencies have also started to see a resurgence in terms of trading volumes and investors returning. This has contributed to these cryptocurrencies’ rising prices, and if the trend continues, we might see the CRO bullish trend becoming long-term and possibly lasting for the next few weeks.
The chart below shows that prices have risen by 30 per cent since July 13th. The chart also shows that before the prices dropped, a recent high set of $0.14 was likely to be hit by the current bullish trend. Therefore, my CRO price prediction expects the prices to continue rising for the next few trading sessions.
We are highly likely to see the prices push past the recent high of $0.14 and hit the $0.15 price level. My analysis will, however, be invalidated should the prices retreat and trade below yesterday’s opening price of $0.13. At that point, the signs of a possible bear move will be clear.
This post was last modified on Jul 22, 2022, 15:41 BST 15:41