The Crypto.com Coin price has crashed. The CRO price is trading at $0.1465, which is 41% from its all-time high of $0.2495. Its market cap has equally dropped to $3.8 billion. It is not alone. Other exchange-tied cryptocurrencies like the Binance Coin, Huobi Token, and FTX Token have crashed by 15%, 16%, and 14%, respectively in the past 24 hours.
What happened: After a strong uptick in the past few weeks, the CRO price has crashed this week. This performance is mostly because of the overall sell-off in the digital currency universe. For one, Bitcoin has dropped by more than $14,000 from its highest point last week.
And most currencies have crashed by double digits in the past few days. A major crypto sell-off is usually a bearish thing for Crypto.com Coin price. That’s because its demand rises when there is a significant volume in the exchange’s network. So, what next for CRO prices?
The four-hour chart shows that the Crypto.com Coin price has dropped sharply in the past few days. The coin has dropped from the important support at $0.1930, which was the lowest level on March 25. It also fell below $0.1930, which was the lowest point on April 7. During the decline, the coin has moved below the 25-day and 15-day moving averages.
Therefore, in my view, the coin may keep falling as most retail traders dump their holdings. If this happens, the coin may retest the next key support at $0.12, which is about 17% below the current level.
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