Crypto.com Coin Price Prediction: Is CRO Ripe for a Breakout?

Summary:

In this Crypto.com Coin price, we explain why CRO may be about to have a bullish breakout in the next few days

The Crypto.com Coin price has struggled in the past few weeks even after the company behind it has embarked on a major marketing drive. CRO is trading at $0.1145, where it has been in the past few days. This brings its total market capitalization to more than $2.9 billion.

Crypto.com news. Crypto.com is a leading blockchain company that has provides a complete suite of products. The firm’s key product is an exchange that allows people to buy and sell cryptocurrencies. The company’s other products are its NFT marketplace, Visa card, and a crypto investment platform.

Crypto.com is also the company behind the Crypto.org chain, a platform that allows developers to build applications. CRO is the token for this chain just like BNB is the token for the Binance Smart Chain.

CRO price has struggled lately even after the company launched a major marketing campaign. A few weeks ago, the company inked a $100 million deal with Formula 1. The deal will see its marketing materials placed at strategic locations during qualification and racing.

This week, Crypto.com announced a $175 million deal with UFC. The deal will see the company become the first Global Official Fight Kit partner and the first official cryptocurrency partner. That marketing will give the company visibility to more than 900 million TV households. Therefore, there is a possibility that this spending will help make Crypto.com Coin more popular among investors.

Crypto.com Coin Price Prediction

The four-hour chart shows that the CRO price has been in a tight range recently. A closer look shows that it has formed an inverse head and shoulders pattern that is usually a bullish signal. The price is also slightly below the ascending channel that is shown in black.

Therefore, there is a possibility that the coin will soon bounce back in the next few days. The bullish case will be confirmed if the price manages to move above the neckline of the H&S pattern at $0.1235. If this happens, the next key level to watch will be $0.15, which is about 31% above the current level. On the flip side, a drop below $0.100 will invalidate this trend.