Crypto.com Coin (CRO) is one of the biggest movers and shakers in the crypto market, seeing double digit gains through Monday and hitting a new ATH, making the most of the current bull run in the crypto market. At the time of writing, CRO / USD is trading at around $ 0.489.
With the leading companies Bitcoin and Ethereum hitting new highs and more and more investors buying altcoins, the end of the year really seems like a crypto season. As a native token used within the leading crypto platform Crypto.com, CRO benefits from increased user activity on the platform, which has increased by more than 30% in the last week alone.
Market sentiment plays an extremely important role in determining the price movement of the Crypto.com coin. When sentiment is bullish, especially fueled by bullish moves in Bitcoin, it increases investor confidence in digital currencies and drives them into a buying frenzy across the board, which supports and increases on-chain activity on the Crypto.com blockchain makes the CRO more valuable. On the flip side, a decline in the value of Bitcoin discourages investors from the market, drives the sell-off of cryptocurrencies and keeps them away from the leading exchange, causing the value of the CRO token to drop.
Currently, the CRO token has taken 20th place among cryptocurrencies in terms of market capitalization and the ongoing rally has the potential to take it even higher. One of the main reasons for being optimistic about the coin is Crypto.com’s efforts to expand the scope of its business through partnerships and promotions, including CRO price.
But what the Crypto.com coin really shines is because of the platform’s power, which goes beyond supporting cryptocurrency trading – it also offers users the ability to pay for goods and services through cryptos, a move made by leading companies worldwide is increasingly accepted. Additionally, users can put their CRO inventory on the platform to act as a validator and process transactions, giving them the ability to deploy their inventory and earn rewards. You also have the option to use CROn in the trading app and earn rewards for some token listings.
CRO / USD technical analysis
On the 4-hour chart of CRO / USD, the moving averages as well as the technical leading indicators MACD and Momentum show a strong bullish bias. The price of Crypto.com coin is holding above the pivot point at $ 0.397 and has crossed the first resistance level at $ 0.485.
It looks like buyers will soon be testing the second resistance at $ 0.532. But we need to watch out for the first level of resistance as profit taking could cause the price of the CRO to fall towards below that level.