Home Crypto.com Technical Analysis: MCO/USD 40% explosion caused by the merger of MCO and CRO
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Crypto.com Technical Analysis: MCO/USD 40% explosion caused by the merger of MCO and CRO

FX Street
Updated:
  • CRO and MCO are going to be merged into one token.
  • MCO holders can now swap their tokens for CRO until November 2.

The recent swapping news mad the price of MCO explode by more than 40% within minutes of the announcement. MCO is now trading at $5.671 and getting closer to a $100 million market capitalization. CRO hasn’t moved much as it is already sitting at a $3.1 billion mcap.

MCO/USD 1-hour chart

MCOUSD

One hour after the announcement, MCO jumped 28% to $5.25 and got a continuation on the next hour up to $6 before getting rejected. Bulls have established a bull flag now and are waiting for the RSI and other indicators to cool off. The 12-EMA is slowly catching up with the current price and will serve as a support level if the consolidation gets dicier.

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