Crypto.com Price Gains Ground with Even More Upside Coming
- Crypto.com coins broke above the 55-day SMA level at $0.48.
- CRO is riding the tailwinds that emerged after positive news from Russia.
- Expect to see further upside throughout the trading day as more bulls join the rally.
The Crypto.com (CRO) coin’s price action builds further on the strong rally that has been building since last week, with a starting point around $0.40. In the meantime, the monthly pivot, the 76.4% Fibonacci level and, since yesterday, the 55-day simple moving average (SMA) have all reversed from resistance to support. With this move, $0.53 appears to be the price target for today, with $0.62 as the ultimate target for this week offering a 25% gain.
Who can say no to 25% gains?
Crypto.com coins are stable as it goes, as market woes have had no impact in recent days on the trend of CRO price action. With more and more upside ahead, several key elements are forming in support as the bulls move higher. For this week, the price target appears to be set at $0.62, around the 50% Fibonacci level, bringing investors back to levels not seen since December 28th.
CRO price action today is currently riding on positive news from Macron’s meeting with Putin and some former Trump tariffs on steel imports that have been scrapped by a new trade truce between the U.S. and Japan. Expect this momentum to continue through the European session and head into the US session, offering flimsy fruit around $0.53, with the 61.8% Fibonacci level as the first target on the upside. . This would mean that today an easy profit of around 8% might be hard to turn down.
CRO/USD daily chart
These tailwinds came out early today, and some counter-comments could soon be released to break the current fragile positive sentiment. This would see the CRO price action pushed back towards the opening price around $0.49, which would see the bears eventually test the 55-day SMA at $0.48. The pressure could start to build, and if the markets come back and erase the positive numbers for the day, expect further declines towards $0.45 with the monthly pivot and the 76.4% Fibonacci level at 0, $42 as a double stand.