Ronaldo's arrival at Juventus has raised expectations of a first Champions League title since 1996, with share prices peaking at a record 1.8046 euros on the stock market Thursday before closing at 1.581 euros.
The Uefa panel studies all red-card cases and has the power to extend the mandatory one-game ban.
Referee Felix Brych dismissed Ronaldo in the 29th minute of Valencia vs. Juventus after he collided with Jeison Murillo in an off-the-ball incident.
But sources say it is unlikely the Portugal star will be hit with a two or three-game suspension, meaning he will be available to play at Old Trafford on October 23 and in the return match in Turin on November 7.
"If I had been officiating this game, I would have given Valencia a free-kick and shown a yellow card to each player".
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"I can only say that VAR would've helped the referee make the right decision", Allegri said.
UEFA's ruling on 27 September will determine whether the striker receives a two-game ban, which would rule him out of the upcoming trip to Old Trafford to face former club Manchester United on 23 October.
Ronaldo, 33, left the pitch in tears following the controversial decision.
Juventus midfielder Emre Can has issued an apology, after his reaction to Cristiano Ronaldo's red card last night saw him being labeled as sexist.
Despite his dismissal from the game, his Italian League outfit still went ahead to win the clash with Miralem Pjanic scoring twice from the spot.