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- 1 Cronos price prediction suggests that XLM crypto is under the buyer’s hold.
- 2 Cronos price is up by 4.82% in the last 7 days on the daily chart.
Cronos price prediction indicates that bears have a keen watch over the price as it heads toward the supply zone. The CRO price is steadily approaching its crucial immediate resistance near 50 EMA. The price has been testing this barrier for the past 9 months and despite breaking above it a few times, it has not been able to sustain above it.
At present, the price is moving near its resistance level where the bulls are trying to make a breakout. Although, the price will require fierce support from the buyers in order to make the break. As the past attempts have not yielded the desired result for the buyers, the probability of a breakout is very low. If the bears prevail in pushing the CRO price further, it can lose 15% of its value in the near future.
Cronos price is currently trading at $9.42 with a 22% gain in the 24-hour trading volume and has a market cap of $4.3 Billion.
Investors Show A Surge In Bullish Optimism
According to LunarCrush, the community is not as engaged regarding the Cronos token across multiple social media platforms. The total bullish sentiment parameter has declined by 90.67% whereas the total social engagement metrics are seeing a fall of 89.66% within the past week.
However, 24-hour trading volume has hiked by 56.53% indicating that there is more activity among buyers and sellers regarding Cronos within the last few weeks.
CronosPrice Prediction: Technical Analysis of CronosPrice On Daily Chart
The RSI line is progressing toward the overbought level on the 1-day chart. The RSI line is moving near 60.67 points and the 14 SMA is providing support at around 56.68 points. The RSI line indicates that the price of the Cronos token may soon see a bearish decline.
The stochastic RSI is moving above the median line. The %D and %K are giving a positive interception. The present value of stochastic RSI is 64.12 points.
Conclusion
According to the analysis, bears have a keen watch over the price as it is approaching the supply zone on the 1-day chart. If the bears succeed in pushing the CRO price further it can lose 15% of its value in the near future. The community is not active across multiple social media platforms regarding the Cronos token.
Technical levels
Support – $0.063
Resistance – $0.051
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
