Crypto.com’s price is up by a percentage point in today’s trading session, extending yesterday’s price surge of 4 per cent. The session gains is also an extension of the long-term bullish trend that has continued to dominate crypto.com trading.
Crypto.com cryptocurrency is the native token of the Cronos blockchain, a decentralized open source network developed by Crypto.com. Being a native coin of a blockchain associated with one of the largest exchanges, Crypto.com has grown to become one of the largest cryptocurrencies, with a market capitalization of $3.8 billion. It is also ranked as the 25th largest cryptocurrency based on its market capitalization.
The chart below shows Crypto.com’s price has been aggressively bullish for the past few weeks. Starting on July 26, the prices have surged by 32 per cent to trade at the current price of $0.15. During that time, Crypto.com’s price also set a new price high for the month, $0.1600, with prices failing to return to that level again and instead dropping to hit the $0.147 support level.
The current push to the upside is a bounce from the $0.147 support level, with today’s trading session extending the strong bullish move. Therefore, I expect the current aggressive bullish trend to continue in the next few trading sessions. We are highly likely to see prices hitting and trading above the $0.160 resistance level. The current price action also shows that we might hit the $0.167 price level.
However, should the price trade below yesterday’s price low of $0.142, then my bullish analysis will be invalidated. It will also mean that the strong bullish trend has likely ended, and as a trader, it will be a signal for either a move to the downside or a sideways market.