Will the launch of the Visa-collaborated FIFA NFT collection spark an uptrend?

• The Crypto.com price has not reacted in the same way that other cryptocurrencies have in recent days.
• Stuck in consolidation, CRO is nowhere near breaking through the nearly three-month resistance.
• Crypto.com unveiled the first-of-its-kind hybrid NFT experience with Visa, featuring a pre-event auction and immersive activation.

The Crypto.com price, unlike Ethereum, MATIC and other cryptocurrencies, did not record any significant price increase. However, Crypto.com’s partnership with FIFA could turn things around for its native token, provided the ongoing efforts pay off when the FIFA World Cup begins in two weeks.

Crypto.com price may go sideways

Crypto.com price, hovering at $0.112, gained 12.71% in the last 11 days after returning the critical support at $0.101. For the past five months, CRO has managed to maintain support. The recent rise in price also enabled the altcoin to break the six-month downtrend, maintaining the CRO price above it.

CRO/USD 1-day chart

Anyway, as of now, Crypto.com price is set to stick to a sideways move as it is far away from testing the $0.132 resistance. The altcoin has support from the 50-day (red) Simple Moving Average (SMA), but the 100-day (blue) SMA continues to act as resistance.

CRO/USD 1-day chart

Thus, not much activity from investors or traders is expected until the price swings in either direction as volatility appears to be low at the moment.

Despite a red candle on Tuesday, an uptrend is possible thanks to the upcoming FIFA World Cup, where Crypto.com could get a lot of attention. If that happens, the 100-day SMA, which coincides with $0.120, will be the next critical resistance for CRO.

Crypto.com X Visa

In an announcement on Tuesday, the cryptocurrency exchange unveiled the first-of-its-kind NFT event in partnership with Visa. Entitled Visa Masters of Movement, the experience will feature a pre-event NFT auction and immersive activation at the FIFA World Cup in Qatar.

NFTs available on Crypto.com can currently be purchased and traded, and fans can also later create digital art, which eligible individuals can insert into their own NFT. Crypto.com’s partnership as the official cryptocurrency trading platform sponsor for the FIFA World Cup Qatar 2022 could act as a huge bullish signal for the CRO price.

Although currently no such interest is observed from the hands of the investors. The rate at which new addresses join the network continues to see no increase despite the 12.71% price increase and the announcement of the new NFT experience.

Crypto.com new addresses

Whether this changes at the start of the World Cup by the end of this month remains to be seen.