CRO tokens are mainly used for intermediary currency settlement across various assets. Crypto.com Chain and its CRO token function as a crypto-based payment solution tasked with supporting cross-asset intermediary currency settlements and improving interoperability between cryptocurrencies and fiat-based payments. Past Performance of CRO The past week has been fantastic for CRO (Crypto.com coin). 70 billion CRO coins have been burnt prior to the launch of the crypto.com chain’s mainnet on March 25, 2021. This has led to a massive rise in the CRO price in the past couple of days. On February 18, 2021, CRO opened at $0.10. As of February 23, 2021, CRO closed at $0.15. The price has surged by roughly 50%. In the past 24 hours, the CRO price has been fluctuating between $0.14 and $0.18. https://ift.tt/3urtk62 Technical Indicators for the Day-Ahead and Tomorrow Currently, CRO is trading at $0.17. It is up from the opening price of $0.15. Thus, the market seems bullish. The A/D indicator is rising. This is indicative of higher accumulations than distributions. Thus, buying pressures are high. We can expect the price to rise further. The RSI indicator is at 39%. It has just rallied from the 30% mark. Thus, selling pressures are toning down. It is a good time for swing traders to go long. As buying pressures are slowly mounting, we can expect the price to go up. The MACD and signal lines have turned negative. A bearish crossover by the MACD line over the signal line has occurred too. Thus, the market momentum looks bearish. A price pullback is on the anvil. However, it is too early to confirm a price downtrend. The ADX indicator was rising for a long time since morning. This implies the market was healthy. However, for the past couple of hours, it has been declining steadily. There is a negative divergence. Hence, we can expect some price adjustments in the market. Consequently, there may be a temporary price pullback. At present, the price line is convergent with the lower Bollinger band. It has fallen below the 20-day SMA line. The A/D indicator has started dipping too. Thus, a price pullback looks imminent. Currently, the price is testing the 38.2% FIB retracement level of $0.16. It may fall below it for some time, as most of the oscillators are indicating bearish momentum. However, by the end of the day, we can expect the price to retest the 23.6% FIB retracement level of $0.17 and break out of it, as the market looks positive overall. Presently, the price is trading above the Fibonacci pivot point of $0.16. By the end of the day, if the price goes above the first Fibonacci pivot support level of $0.17, we can expect the bull-run to continue tomorrow as well.
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