Price Analysis for Coin Shows it May Go Below $0.43 or Over $0.68

In the running year, Coin (CRO) has been under the spotlight for demonstrating a high trend in terms of its growth. The data from Glassnode shows that its price has continued growing since the beginning of 2021.

The performance chart surrounding CRO shows that from the beginning of 2021, its price has grown by 895.34%. Coming further to analyze the performance of CRO in the past 30-days, it shows that CRO has grown by 70.99%. In the past 7-days, CRO has grown by 9.08%, as of the past 24-hours, its price has grown by 3.57%.

This means that CRO is also experiencing an uptrend in its price but it has experienced a few plummets in its price. As of now, the price of CRO is at $0.5938, but the all-time high it had experienced was back on November 24, 2021, which was $0.9698.

The data shows that from the point of hitting an all-time high, its price has plummeted by 38.61%. However, the trend line for CRO shows that the bulls may not be willing to give up and they may attempt to push its price higher.

So far, the 11.98% plummet in the trading volume for CRO in the past 24-hours shows that the bears are not able to take over. Instead, the bulls are buying CRO to increase its price and bring it closer to the all-time high, and push it beyond that mark.

As of now, the data surrounding CRO shows that the bulls are making purchases in order to push its price higher. For now, the bulls are trying to push the price of CRO over the 20-day SMA. As of now, the 20-day SMA for CRO is $0.68.

If the bulls manage to hit and grow beyond the 20-day SMA, their next attempt would be to launch another buying rally. This may help CRO grow all the way up to $0.80. For now, the $0.80 figure is the strong resistance point for CRO, where the bears may pose a great threat to the price of CRO.

They may increase their selling efforts in order to cause a plummet. However, if the bulls are able to fight the bears, then they will be able to push the price of CRO even higher, bringing it close to the all-time high figure.

On the other hand, the bears may attempt to bring CRO down before it reaches the 20-day SMA. If that happens, then the bears may attempt to push it all the way down to $0.50 price, which is the strong support for CRO.

If they manage to do that, then the bears are expected to go on a selling spree. Their target would be to bring the price of CRO below the 60-day SMA ($0.43).