After Rallying 350% In A Month, A Major Pullback May Be On The Way For CRO Price

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No sooner than Coinbase listed Crypto.com, the CRO price shot up but failed to surpass $1. The Crypto.com Arena is all set to make a huge debut this Christmas. And hence CRO may get a wider adoption by going mainstream. And hence it may impact the CRO price also to a greater extent also due to growing attention.

As mentioned before, the token made its debut on Coinbase at the beginning of the present trading month. And the price surged like a monster by more than 360% that also included slight pullbacks. The corrections were withstood firmly as the selling pressure could not outperform the buying. The asset climbed high to hit the ATH at $0.97 and before it could make a move above $1, a notable plunge dragged the price to $0.91. 

However, after such a gigantic bull run, the question is whether the price will maintain its uptrend or fall into a bearish trap. The RSI is also within an ascending channel and trending in the overbought region for quite a long time. And hence as per an analyst, a substantial pullback could be on the horizon. 

crochart

The analyst placed his target somewhere around $0.58 to $0.6 and hope the price to retrace within this region. If the Fibonacci retracement is extended from the last support then the retracement target may be around these levels. However, the analyst currently has considered the lowest support levels and if the levels are increased a bit the upper target may surpass $1. 

Collectively, Crypto.com is on the verge to extend its existence more than a crypto asset or an altcoin. The wider adoption and mainstream attention may uplift the CRO price above $1 very soon as the probability of huge correction appears to be notably less. Therefore, in the upcoming days, the asset could maintain a notable uptrend to climb high. 

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.



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