Crypto.com token shows strength, hinting at 20% rally for CRO

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The Crypto.com token bounces off the daily demand zone, ranging from $ 0.384 to $ 0.456. Investors can expect a 20% rise which allows the CRO to retest the resistance barrier of $ 0.545. A breakdown of the support level of $ 0.316 will invalidate the bullish thesis.

The Crypto.com token has shown a palpable rebound after retesting a confluence of support. Although the CRO appears to be slowing down in the short term, this is only the start. Investors can expect the altcoin to retest the immediate resistance barrier.

Crypto.com token aims higher

The Crypto.com token fell 27% between January 2-10, leading to a retest of the daily demand zone, ranging from $ 0.384 to $ 0.456. Interestingly, this support area is also home to the 100-day simple moving average (SMA) at $ 0.448, which also helped CRO bulls find their place.

A rebound on these barriers allowed the Crypto.com token to rally 13% at its current level. Going forward, investors can expect the CRO to return to $ 0.464 before pushing higher. The $ 0.545 resistance barrier is the first hurdle and is around 20% of the current position.

Clearing this level will allow the Crypto.com token to break through the next barrier at $ 0.587, bringing the total gain to 26%.

1-day CRO / USDT chart

On the flip side, if the Crypto.com token fails to maintain above the daily demand zone stretching from $ 0.384 to $ 0.456, it will indicate weakness among buyers. However, CRO has a 3-day demand zone, ranging from $ 0.316 to $ 0.417, overlapping the daily support zone. Therefore, the downside to the CRO seems unlikely.

However, if the sellers push the Crypto.com token to produce a daily close below $ 0.316, it will create a lower low and invalidate the bullish thesis.

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