The Crypto.com Coin (CRO) price is rising for the third straight day as the cryptocurrency industry rebounds. The token is trading at $0.175, which is 38% above last week’s low of $0.1265. Its market capitalization has risen by 15% from last week to more than $4.26 billion.
The background: Crypto.com is one of the biggest cryptocurrency exchanges in the world. The company has more than 10 million customers from around the world. In addition to its basic exchange, the company offers crypto debit and credit cards, DeFi products, and an investment platform.
The Crypto.com Coin is the native token used in its ecosystem. It is similar to the Binance Coin, the third-biggest crypto project in the world, and Huobi Token.
The Crypto.com Coin price is mostly rising because of the rising volume in the cryptocurrency industry as their prices rebound. Yesterday, BTC moved close to its all-time high while its market cap moved back to $1 trillion.
The CRO price is also rising ahead of the Crypto.org Chain network that will happen in the next 13 days. The company describes it as a:
“a fully decentralized network with high speed and low fees, designed to be a public good that helps drive mass adoption of blockchain technology through use cases like Payments, DeFi and NFTs.”
On the daily chart, we see that the Crypto.com Coin price reached an all-time high of $0.2753 in February. It then declined by more than 54% to $0.1268. Since then, the CRO price has been on a slow uptrend. It has moved above the moving averages while the Relative Strength Index (RSI) has moved slightly below the overbought level. The price has also formed a small rising wedge pattern.
Therefore, while the price will likely retest the all-time high before the Chain network launch, there is a possibility of a pullback to $0.1268 in the near term. The rising wedge is usually a bearish signal.
