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CRO Technical Analysis: Ongoing Uptrend Predicts an Upcoming Price Rally

source-logo  cryptoknowmics.com 22 November 2021 16:11, UTC

Crypto.com Coin (CRO) is the native cryptocurrency token of Crypto.com Chain — a decentralized, open-source blockchain developed by the Crypto.com payment, trading, and financial services company. Crypto.com was founded in June 2016 as “Monaco Technologies GmbH” by Kris Marszalek, Rafael Melo, Gary Or, and Bobby Bao.

Let us look at the technical analysis of CRO.

Past Performance

The most striking feature of the CRO is that ever since it was introduced in the market, the value of the coin did not fluctuate to the smallest of the diversions and has remained attractive to the investors. Even though there were changes that took place in the technology of blockchain, the coin’s value did not deteriorate.

November 2021 has proved to be fruitful for the CRO investors. The CRO price has increased by 243.89% this month. On November 15, 2021, it opened at $0.4398. It closed at $0.7294 on November 21, 2021. This was a weekly change of +65.84%.

Source: https://www.tradingview.com/x/D5uOZ77E/

CRO Technical Analysis

The ongoing uptrend predicts that the price will increase. However, today the price is trading 5.22% below yesterday’s close, which can be a negative signal. Let us look at what the oscillators are predicting.

The upwards moving trend line in the OBV graph is showing a dip at the end. This is a signal that the price is facing downwards pressure from the high selling volumes.

The RSI has started to move towards the boundary of the overbought region to exit it. Currently, RSI is at 76.29%.

The MACD graph is in favor of the bulls, as both the fast line and slow line are positive. Also, the height of the histogram is increasing day by day.

Day-Ahead and Tomorrow

Crypto.com has recently acquired an Australian financial services license. It has also launched $200 million funds for Crypto startups as an aggressive gesture. The Crypto.com exchange has also launched an NFT platform. All these factors are predicting a very bright future for Crypto.com.

The OBV and RSI are showing negative signals for the short term, while the MACD is still positive. Thus, for the short term, the traders may take a short position if the CRO price continues to fall. The long-term momentum is still positive, and the investors may hold their positions. A target can be placed at $0.9.

The recent parabolic increase in the price has caused the price chart to cross all the present Fib levels.

cryptoknowmics.com