The Crypto.com (CRO) price has regained its footing after a correction and could continue its upward movement.
The CRO price broke out from a descending resistance line on Jan. 7. It continued its increase until reaching a high of $0.087 on Feb. 4. The price fell afterward and validated the $0.074 horizontal area as support. This is a crucial area since it had previously provided resistance for more than two months.
The entire downward movement was preceded by a bearish divergence in the daily RSI (green line). The indicator is now at 50, a sign of a neutral trend. Moreover, it has not broken out from its bearish divergence trend line. Until it does, the trend cannot be considered bullish.
If the ongoing bounce continues, the closest resistance area would be at $0.091. This is the 0.5 Fib retracement resistance level and a long-term descending resistance line.
A breakout from this line would confirm that the trend is…
