CRO is used across most of the services offered by CRYPTO.COM and its utilities keep on growing. This will soon start affecting CRO price. Let us review some fundamentals of CRO before getting into the technical analysis.
Payments
Crypto.com Pay is powered by Crypto.org chain which is a public blockchain delivering instant transaction confirmation with minimal fees. Crypto.com VISA card holders can enjoy up to 8% back in CRO, full purchase rebates, interbank exchange rates with no markups, and many more perks.
Trading
Everyone trading on Crypto.com website and their mobile application are offered rebates on the trading fee if they hold CRO. You can trade across 20+ fiat and 100+ cryptocurrencies on Crypto.com
Staking
You can stake CRO as well as other cryptocurrencies on Crypto.com to receive lucrative APY which, at times, is in double digits.
Formula One
Crypto.com has entered into a global partnership with the famous British Formula One racing team, Aston Martin. The partnership between Crypto.com and Aston Martin Cognizant Formula One Team comes ahead of the Formula One team’s 2021 car launch. This will drive a lot of attention of the global audience watching this sport and will open the door for new investments in cryptocurrencies through their trading platform. You can read more about this partnership here.
Crypto.com Mainnet
Crypto.com has announced the launch of Crypto.org Chain. The mainnet launch is scheduled for 25 March 2021. The chain will use CRO as its native currency. You can read more about this here.
Token Burn
Crypto.com will be burning 70 billion CRO tokens in order to help fully decentralize the network at mainnet launch. You can read more about the token burn here.
Now let us review CRO Price
CRO/USD Price Prediction
CRO is currently trading above the support zone of $0.1695. It was in an accumulation zone for almost 4 months after breaking the support of $$0.1451. Once it broke out of this accumulation and cleared the Support turned Resistance, we saw an impressive move. As long as it is above this support zone of $0.1695, we could start seeing a move towards $0.2175, $0.2398, $0.2620. If it can close above the previous weeks high of $0.2620, we could see a bigger move towards $0.2937, $0.3340, $0.4506 and $0.6392. Failure to hold the support at $0.1695 could lead to a drop towards $0.1550 and $0.1451.
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CRO is currently trading at $0.1935 with a market cap of $4,889,383,512. Its 24 hour trading volume was $273,050,609.
