If the geopolitical scenario continues to deteriorate, Crypto.com Coin is expected to lose 30% of its market value this week

Crypto.com Coin is expected to lose 30% of its market value

Crypto.com Coin (CRO) is bleeding hard, with a third consecutive day of losses bringing the week’s total losses to 15%, including Sunday. Only one topic has taken center stage in the last 36 hours: the escalation in Ukraine. Markets have gone into risk-off mode as the threat of a full-scale conflict looms, with additional headlines hitting the wires every hour threatening penalties and retribution from many Western countries.

Next to the Donbass, CRO is becoming a war zone with mounting losses

Crypto.com Coin is having its worst week thus far, with 15% losses on the performance sheet already,  since Sunday. The pain is not over yet as the situation in Ukraine is deteriorating by the hour. Bears used the entry at $0.4384 – a historic pivotal level – to reject bulls trying to keep price action above it. The short wick of the Feb 19 candle on the daily chart is proof of that. The  big thick red candle on the day after, shows that the bearish response was just too big to resist. CRO price could drop another 20% as bears look for the year’s bottom, which is about $0.3291 – not far from the low of November last year, which was $0.3100. As a result, once the bottom of January 22 gives way to bearish pressure, look for a specific breach towards $0.31. Expect a further decrease with a break below $0.3100 towards $0.25, which was the opening low on the IPO in November 03, if this turns into a full-fledged conflict with boots on the ground on both sides.

CRO1
CRO1CRO/USD daily chart

Despite his tough attitude during yesterday’s televised meeting, Putin kept the door open for discussions. This means that any phone call with a state leader may herald good news, prompting a huge market turnaround in which CRO swiftly regained all of the ground it had lost over the previous three days. In this case, the price of CRO could rise to $0.4243 or even $0.4384. In the event of a ceasefire or new peace accord – which may be the relieving catalyst markets have been waiting for – a move over the 55-day Simple Moving Average is not unfathomable.

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