Crypto.com provides a wide range of financial services such as prepaid cards, exchange, brokerage services, and many others. Last year, it launched an advertising campaign with a huge budget and signed a big deal (approx value of $700m) with Los Angeles stadium. It is now an official crypto platform for the LA Kings and Lakers.
It is just like a crypto bank where users keep their money and earn interest. The rate depends on the CRO of the users’ stakes. Moreover, it offers different types of VISA cards. Crypto.com generates their gift card sales, partnering with big brands like Macy’s, Airbnb, etc.
While Writing this analysis, the price of CRO coin is trading around $0.48. First, we should find out the major support and resistance levels. We think $0.43 is a major support level, and the price may not go down further. On the upside, $0.57 is the initial resistance level, and $0.65 is the strong resistance level.
MACD is still bearish on the daily chart, but RSI moves from the oversold zone and gets stronger around 41. Does it mean any reversal? If we consider the Bollinger Band, we find candlesticks are in the lower half of the Band and just above the Moving Average line.
The Crypto.com coin is relatively new, and we cannot judge its movement by analyzing the chart. On the other side, it has invested considerable amounts in advertising for branding and got big deals. We hope many new deals will come for them.
Is it the right time to invest in CRO? We think the price pattern is still bearish, and short-term investors should avoid it. For long-term investors, we would suggest, if you have good knowledge about the functionality of this token provider, then you should invest for the long term.
