- Summary:
- In this Crypto.com price prediction, we explain why we think that the CRO price is extremely bearish if it moves below $0.1630
The Crypto.com Coin (CRO) price is in recovery mode after it dropped to the lowest level since March 10 yesterday. It is trading at $0.1942, which is almost 20% above the lowest level yesterday. Its market value is at $4.9 billion, ranking it as the 26th biggest digital coin.
What happened: Crypto.com has made headlines recently. Last week, the company teamed up with Visa, the giant card company, as it became the first major company to settle transactions in USD Coin.
The firm has also become a major player in the non-fungible tokens (NFT) industry. It has launched a marketplace where people can by these tokens. At th time of writing, it is selling Formula 1’s Sebastian Vettel’s first run at the new team from $2,467.
All this means that Crypto.com offers a wide variety of solutions, including Visa cards, exchange, trading platform, wallet, and DeFi, among others. This is beneficial to the Crypto.com coin, which is the company’s native token.
Crypto.com Coin price
The four-hour chart shows that the CRO price momentum has faded recently. For one, between February and March, the coin’s price rallied by more than 300% as interest in exchange-run tokens rose. In the past few weeks, however, the price has moved sideways as some of the previous buyers took profit. And yesterday, the price fell to a multi-week low of $0.1630. It has also moved below the moving averages and formed what looks like a hammer pattern.
In technical analysis, hammer is usually a bullish signal. Therefore, while the Crypto.com coin price may keep rising, we should not rule out further correction. This will be confirmed if the price manages to move below this week’s low of $0.1630. This will be a sign that there are more sellers in the market.
CRO price chart
