Ever since the beginning of the present trading month, many new gems are emerging that rallied like a monster. Interestingly most of them are NFT that surged more than 500% on an average in the past fortnight. Crypto.com also emerged out of blue and raised from $0.21 to as high as $0.9698 yet failed to surpass $1. As Coinpedia reported earlier, the pullback appeared & continue to pursue, plunging the CRO price drastically to $0.76.
While the asset is drowning constantly, many assume the downtrend may have initiated. Moreover, the asset’s retracement towards the strong support levels around $0.66 was witnessed. Also, the selling volume appeared to be on the higher side that did not allow any buying pressure to build. Despite the downtrend, the asset may still resume its upward trajectory very soon.
The price is still maintaining the upward trend, testing these support levels. The asset is attempting hard to prevent the breakdown below these levels. And at the press time, a notable buying pressure fighting to ease the selling appears to slowly take over the rally. Therefore the asset may flip the bearish divergence anytime from now.
CRO – The Favorable Token Of Ethereum Whales!
Crypto.com is gaining notable attention in recent times mainly due to the stadium which will be renamed as Crypto.com Arena. The asset no doubt is experiencing a certain pullback, but considering a long term trend, CRO price is pretty bullish. Moreover, the NFT token is one of the favourite tokens to transact for top Ethereum whales.
As mentioned above, the analysis of the top 1000 Ethereum whales the top transacted coins include Crypto.com, Shiba Inu and Enjin Coin. Moreover, with a huge event of the stadium being due in a months time, the CRO price is still pretty bullish mainly due to positive market sentiments. And hence, the NFT may rebound the ongoing bearish divergence within a short period of time in order to head towards the target at $1.
The post appeared first on Coinpedia
