There is a potential for a steep drop in the CRPT/USDT pair following the violation of the lower border of the symmetrical triangle. This could lead to bearish Crypterium price predictions in the near term.
The trigger for this violation comes from the decline seen in the crypto market early on Friday, just as the Asian trading session commenced. Bitcoin prices dipped below the 30k mark once more, reasserting the bearish sentiment that has suppressed any attempts at recovery.
Without any bullish fundamental triggers, the CRPT/USDT pair is now vulnerable to market sentiment, which presently remains bearish. Therefore, it will not be surprising if more Crypterium price predictions creep into the market, keeping the token’s price well below the $0.20 mark.
The CRPT/USDT pair is trading lower by 0.49% and looks to be in danger of heading for a fourth losing session.
The symmetrical triangle’s lower border remains vulnerable. A breakdown at this point sends the CRPT/USDT pair lower, targeting the 0.16320 support level initially. Below this level, additional support levels are seen at the 0.12536 price mark (26 February and 17 March lows). A further decline targets the 0.10057 price level (9 January/22 January lows), taking the pair perilously close to its all-time lows.
On the flip side, a break of the triangle’s upper border brings the 0.25322 resistance into the picture, where the highs of 27/30 May reside. The 4 May high at 0.32330 comes into the picture if the bulls uncap 0.25322. Above this level, an additional northbound target is seen at 0.40104, site of the 8 February high.
This post was last modified on %s = human-readable time difference 06:37