您现在的位置是:Should you buy Crypto.com token as price slides to support? >>正文
Should you buy Crypto.com token as price slides to support?
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛8775人已围观
简介Crypto.com token CRO is bearish at a support zone.CRO weakness is connected to the crypto market and...
Crypto.com token CRO is bearish at a support zone.
CRO weakness is connected to the crypto market and slashed card rewards.
The cryptocurrency is almost 10 times below its all-time high.
Crypto.com’s token CRO/USD is barely worth $0.1. The price is a slap for a token that once traded almost at $1. At the current price, CRO trades at a support zone, and investors could be looking to add positions. But, should you buy it now?
We investigate the reasons why CRO has fallen substantially despite numerous sponsorship deals. The bearish crypto sentiment has, of course, been the main source of weakness. The weakness has been connected to actions by central banks to tighten policy. Yet again, on Wednesday, the US labor department reported an annual 9.1% jump in inflation. The increase was higher than estimates of 8.8%. CRO proceeded down after the inflation numbers, which stoked fears across all markets.
Another factor has been responsible for CRO declines in recent weeks. In early May, the crypto exchange announced a reduction of card rewards to customers. The move underlines similar actions taken by crypto firms to remain liquid in the current market. CRO crashed by double digits following the slashed rewards. The token is yet to recover as investors remain cautious. We believe with such developments, CRO is not a buy at the moment and could fall further.
CRO is close to the oversold bottom, but weakness is on
Source – TradingView
Technically, CRO is almost oversold, with an RSI reading of 35. However, the reading is insignificant considering the weak crypto fundamentals. From the daily chart, the cryptocurrency has remained below the 14-day and 21-day moving averages. At the current level, CRO is at a support zone, offering a potential bullish reversal. Nonetheless, the price is extremely bearish, and a further drop is imminent.
Summary
Crypto.com token is under bear control as inflation numbers surpass estimates. The price sits at a support zone, but further declines are possible. We do not encourage a buy at the support.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/8532.html
相关文章
Ash Environmental DAO Announces Ash Token Sale to Champion Social Good
Should you buy Crypto.com token as price slides to support?Potomac Falls, United States, April 11th, 2023, ChainwireAsh Environmental DAO has announced the dat...
阅读更多
FirstBlock launches FirstBlock Labs to support the growth of Web3 startups
Should you buy Crypto.com token as price slides to support?FirstBlock, a leading blockchain solutions provider, announces the launch of FirstBlock Labs, a virt...
阅读更多
Novel enzyme could boost biofuel production for aviation
Should you buy Crypto.com token as price slides to support?By subscribing, you agree to our Terms of Use and Policies You may unsubscribe at any time.A breakth...
阅读更多
热门文章
- Nearly 50% of Bitcoin used for trading is stored on five centralized exchanges
- Assessing Crypto Options Beyond Chainlink and TRON: Spotlight on Rebel Satoshi
- Newly Launched Origin (OUSD) Offers Passive Income
- Renewables to supply over ⅓ of global electricity by 2030
- Auckland man charged with money laundering cryptocurrencies
- LFi and Luiz Góes: Pioneering a New Era in Fintech
最新文章
Crypto market cap hits $1.61T as Memeinator token sale thrives
Solana (SOL) holds firm as a new cryptocurrency is emerging as an analysts' darling
Bitcoin finds resistance at $30k. The neckline of a head and shoulders pattern provides support.
Pandoshi Raises $750,000 In Just Two Weeks of Public Sale
45% of stablecoin balance has left crypto exchanges in 4 months, but where has all the money gone?
SpaceX's Crew