CRO has recently experienced a notable 9% increase in price, though it continues to encounter challenges with limited liquidity and a decrease in total value
Cronos (CRO) price rose by 9% this week, but the token still faces challenges. Cronos is trading at $0.07949, bringing its market cap to $2.11 billion. It encountered selling pressure on Monday as indicated by the 20-day, 50-day, and 200-day EMA bands, but a 15% increase in spot inflows applied some upward pressure.
On the other hand, the growth in its holder base from 313,826 to 314,967 is a positive sign. If CRO manages to cross the $0.10 level and the 200-day EMA, we can expect to see a bullish reversal from the Cronos token. The current 24-hour volume-to-鰺market cap ratio of 0.28% is a point of concern, but improving liquidity could propel CRO's price forward.
Cronos (CRO) price analysis for the past 24 hours
The 4-hour price chart for Cronos (CRO) shows a bullish начале недели, followed by a price decrease on Monday. The bulls encountered selling pressure at the beginning of the week as Cronos began trading at a high of $0.08277, which was followed by a price decrease to a low of $0.07866.
Cronos (CRO) 4-hour price chart. Source: TradingView
The price of CRO recovered from the lows later on Monday and began moving toward the highs once more as the bulls regained control. Cronos price encountered resistance at the $0.081 level, which caused the price to begin decreasing once again.
Cronos price is now trading above the 200-day simple moving average (SMA), which is a bullish sign. However, the relative strength index (RSI) is below 50, which indicates that the token is still in a bearish zone.
Cronos (CRO) price analysis: Recent developments and technical indicators
Cronos price began the week with a bullish momentum, which saw the token encounter selling pressure on Monday. This caused Cronos price to trade within a narrow range with a clear bullish bias.
Cronos price encountered selling pressure at the $0.081 level, which caused the token to begin making lower highs on the 4-hour price chart. Cronos price is now fully supported by the 200-day SMA, which could help propel the token toward the $0.10 level before the end of the month.
Cronos price is trading above the 200-day SMA, which indicates bullish momentum. However, the RSI on the 4-hour price chart is below 50, which shows that the token is still in a bearish zone despite the recent bullish price action.
Cronos price is trading above the 200-day SMA, which indicates bullish momentum. However, the RSI on the 4-hour price chart is below 50, which shows that the token is still in a bearish zone despite the recent bullish price action.
Cronos (CRO) price analysis: What to expect from CRO in the coming days
Cronos price encountered selling pressure at the $0.081 level, which caused the token to begin forming lower highs on the 4-hour price chart. Cronos price is now fully supported by the 2200-day SMA, which could help propel the token toward the $0.10 level before the end of the month.
Cronos price is trading above the 200-day SMA, which indicates bullish momentum. However, the relative strength index (RSI) on the 4-hour price chart is below 50, which shows that the token is still in a bearish zone despite the recent bullish price action.
If Cronos manages to close the day above the 200-day SMA and begin forming higher highs, we can expect to see a bullish breakout from the Cronos token, which could lead to a 30% price increase.
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