Crypto.com price is about to make an unexpected move

  • CRO price continues to print bullish divergence signals.
  • Crypto.com price seller volume is decreasing.
  • The invalidation of the uptrend scenario is a close below $0.16.

Crypto.com price is expected to start a countertrend rally in the coming hours.

Crypto.com price targets $0.32

Crypto.com price shows reason to believe that a strong countertrend rally will occur very soon. The bears are now printing very tiny looking bearish candles on the daily chart. The congested price action could signal bearish exhaustion as bears who took advantage of the sell-off from $0.40 have been unloading their short positions for nearly two weeks.

Crypto.com price provides subtle bullish confluences contributing to the bullish countertrend thesis. CRO volume has steadily declined since the initial sale on May 12. Second, the Relative Strength Index is showing several bullish divergences on the daily chart, which adds confidence to place a long entry at the current price level of $0.185.

CRO/USDT 1-day chart

The uptrend invalidation is a breakout of the swing low, marked at $0.165. If the bears break above this level, a CRO price of $0.10 will be on the cards, resulting in a 45% decline from the current Crypto.com price.