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- 1 The CRO is trading at its all-time low price, bearish rally has driven the coin to its support.
- 2 The current price of Cronos is $0.07987 With a drop of 1.88% during the last intraday trading session
- 3 The pair of CRO/BTC is surfing around with drops in the last 24 Hours.
The Cronos has been under bearish dominance. The downward trend has driven the price of the coin toward its demand zone. The continuous drop in the price of CRO shows inactive buyers. The buyers must attempt to enter the trade for the survival of the coin.
The Cronos lost around 1.88% during the last intraday trading session. The CRO is currently trading at $0.07987. The continuously decreasing price of the coin may result in the coin reaching its support of $0.05412. The buyers are also attempting to give the CRO some upward momentum.
The bulls may face some difficulty entering the trade. If the buyers attempt to give the coin some upward momentum, it succeeds leading the price of CRO to move toward its primary resistance of $0.08610 and this may lead the price of the coin to reach the secondary support of $0.01317. The upward momentum could bring some hope to the investors.
The volume of the coin decreased by 18.98% during the intraday trading session. The sellers are trying to introduce a strong downward trend. The buyers must move so the coin regains its potential. The coin’s price is trading above the 20,50,100,200 Days of Daily Moving Average.
The Technical Analysis of Cronos
The technical analysis shows that: The RSI is neutral returning from the overbought Zone. This could be positive news for the investors. The current RSI is 50.62 and the average RSI is 53.94. The bears are trying to take the RSI to the oversold zone. The buyers will also attempt to drive RSI to their desired zone. The MACD and MACD signal have intersected giving a negative cross. The investors are eagerly waiting for any movement over the daily price chart.
Conclusion
The Cronos market trend is bearish and is trading at its all-time low price. The bears are attempting to introduce a strong bearish trend. The bulls may get active and the movement of the coin may get reversed. The current price of Cronos is $0.07987 With a drop of 1.88% during the last intraday trading session. The RSI is also neutral indicating that buyers are losing grip over the coin.
Technical Levels
Support Levels $0.00003206 and $0.00002756
Resistance Levels: $0.00003812 and $0.00004205
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
