CRO ready for a 50% rally if these conditions are met

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Crypto.com is consolidating after a 50% rally in January. A 50% spike towards $0.12 is possible if the bulls maintain their support. The health of the uptrend depends on the remaining $0.054 untagged.

Crypto.com’s price is worth watching closely. After an impressive 50% rally seen earlier in the month, the technical suggests that further uptrend gains could occur in the coming weeks.

Crypto.com price has higher targets to reach

Crypto.com’s price should remain on traders’ watch list as technical data suggests that more volatility and upward price action may be in store. Since January 1, the Ethereum-based exchange token has grown by 50%. The CRO is now in its 12th day of consolidation as the bears continue to forge resistance near $0.09. A break above the aforementioned level could induce a 50% rally to remove established liquidity in the fall.

The Crypto.com price is currently selling at auction at $0.080. The Relative Strength Index (RSI), an indicator used to gauge trend and potential by comparing trades to previous rallies, shows that the current bid is falling into a previous resistance zone. As the price of CRO gradually produces higher daily closing candlesticks, the descending RSI could suggest that the selling pressure is being absorbed.

Additionally, Crypto.com price is consolidating above a descending parallel channel midline. The descending trend channel has served as resistance and support throughout 2021. Based on classic technical analysis, the price of CRO could rally towards the other side of the trend channel near $0.12. The bullish scenario creates a potential 50% increase in the current market value of CRO.

CRO/USDT 1-day chart

For traders looking to enter the market, the uptrend potential hinges on the $0.054 low position as support. If the low is breached, the CRO could drop towards the $0.04 area, which would cause the current market value of Crypto.com to decline by 50%.

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