HomeTradingCrypto.com Chain: the value of the token rises

Crypto.com Chain: the value of the token rises

Among the best crypto of the top 100, the value of the Crypto.com Chain token (CRO) returns to be noticed, with an increase of over 27%. The Crypto.com Chain token was launched in 2016 and confirms the strong bullish trend that originated in early March. In the last 15 days it has risen by 68% and on a monthly basis exceeds 280%, tripling the value of the token.

Crypto.com Chain is a token that has linked a wallet with a debit card that allows using and converting the various cryptocurrencies into fiat currency for daily spending. It is widespread in Asian countries and in particular in Hong Kong where it is based as a company.

Source: COIN360.com

Volatility has increased in the last 24 hours and, from a monthly average of just over 3%, it has jumped to 10% with very significant fluctuations. Last night most cryptocurrencies updated their year’s highs. This also applies to BTC and other cryptocurrencies that have experienced profit taking and then slipped to the lows of the last week.

Nothing to worry about, yet, but in any case, these are movements that could begin to provide a perspective on the closure of the weekly cycle with indications of minimum swings, necessary to assess the intensity of this rise.

Among the worst this morning is Ethereum who slips below $175 again with a daily drop of 5%, similar bearish intensity affected Stellar (XLM) and Ripple (XRP).

A little more serious is the drop in Bitcoin Cash which, after the rise of the last few days, tries to stabilise looking for a level of support below $285.

Among the worst in the top 20, there’s also Tron, which loses more than 8 percentage points, a drop following three days of sharp rises.

Capitalisation fell below 180 billion, stabilising between 175-177 billion.

Despite these difficulties, the dominance of bitcoin returns to recover the share of 52%, to the detriment of Ethereum and altcoins that fall again in the lows of the last 15 days.

Bitcoin chart by Tradingview

Bitcoin Value (BTC)

After breaking the medium-long term threshold of 5,400 dollars, yesterday afternoon bitcoin managed to push itself close to the 5,500 dollars, where profit taking prevailed, which caused prices to drop in the following 6-12 hours to test the threshold of 5,000 dollars.

In the last few hours prices have been trying to stabilise at 5,200, a level that in the last five days has been several times a threshold of equilibrium where it seems that BTC’s prices can begin to consolidate. Falls below the $4,800 threshold would become dangerous and could attract the support of the $4,500 and then the support of the $4,200.

However, prices continue to travel at a safe distance, but it is always better to follow the evolution of the next few hours and days.

Ethereum chart by Tradingview

Ethereum Value (ETH)

After the dangerous slide below the $175 area, Ethereum tries to keep the threshold of the $170-165 that is the former triple maximum area violated at the beginning of last week.

Ethereum requires an upward movement above 185 dollars threshold but, considering the current moment where we are in line with the closure of a monthly under-cycle, it is necessary to follow the holding of the levels of support that remain in the $170 area, more precisely $165 (levels where prices are fluctuating in these hours) and then the threshold of medium-term on a bimonthly basis of $135.

Federico Izzi
Federico Izzi
Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".