Connect with us price to revisit $0.45 after FIFA World Cup sponsorship deal



  • token set a stable base and rallied 12% to clear a crucial hurdle at $0.41.
  • If CRO manages to stay above this barrier, a retest of $0.45 seems likely.
  • A breakdown of $0.41 could trigger a correction to $0.37 or lower. token has set up pools of liquidity at the range low and high of recent run-up. This technical outlook creates ambiguity with directional bias, but the recent announcement indicates a bullish move is likely.

The company’s Twitter account posted that it will be a sponsor of the FIFA World Cup Qatar 2022. A blog post further elaborated that will be the “exclusive cryptocurrency trading company” sponsoring the Qatar 2022 FIFA World Cup.

This move from the establishment is not unseen in the crypto industry with FTX partnering with major Major Baseball League, Mercedes, eSports teams and so on. The sponsorship will allow to garner branding exposure from within and outside the tournament’s stadiums. token at make-or-break point token fell nearly 20% between March 2 and 7, setting up a range that extends from $0.45 to $0.37. This downswing set a boundary and CRO bulls respected it and created a double bottom at $0.37, triggering then a recovery rally.

So far, the token has managed to flip the 50% retracement level at $0.41 and is at the time of writing hovering above it. A continuation of this bullish momentum could see CRO heading back to the range high and perhaps higher.

Interested investors can wait for a retest of the $0.41 barrier to enter a long position and book profits at $0.45. In some cases, the run-up could push the token to $0.47 especially if the buying pressure increases.

CRO/USDT 4-hour chart

CRO/USDT 4-hour chart

Although things are looking favorable to bulls, a breakdown of the $0.41 support level will trigger a move in the opposite direction. If token produces a four-hour candlestick close below $0.37, it will invalidate the bullish thesis.

This development could see token slide lower to retest the stable support level at $0.36

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