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Cronos Price Rebounds From Support: Can CRO Resume Its Bull Run?

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Cronos Price Rebounds From Support: Can CRO Resume Its Bull Run?
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The Cronos price is moving back and forth on Tuesday and unable to find a clear direction. Moreover, the crypto started the week with a positive bias on Monday adding nearly 3.5% to its market capitalization. 

However, the bulls could not resume the streak on the 2nd day and suffered rejection from the upper levels after showing shift gains in the afternoon session. At press time, the CRO crypto was at $0.083 with an intraday drop of 0.2%. 

It has a total market capitalization of nearly $2.109 Billion and stood 41st out of all the cryptocurrencies. The daily volume received by the crypto is $8.542 Million which is 62.8% more as compared to the previous day. Moreover, the current volume to market cap is 0.40% suggesting very low volatility in the crypto.

Cronos Price Rebounds From Support: Can CRO Resume Its Bull Run?
Source: CoinMarketCap

Cronos Crypto Price Technical Analysis 

Recently, the CRO crypto broke below the 50-Day EMA and an ascending triangle pattern formed over the daily chart turning bearish in the short term. The price made its way to the 200-Day EMA from where the buyers halted the further fall. 

The recent price drop has turned the short term trend bearish, however, the long term trend is still on the positive side above the 200-Day EMA.

Currently, the price is trying to regain the bullish territory and has recovered a bit in the last couple of sessions. Moreover, the recovery lacks momentum indicating the participation of weak buyers. 

Now, if the price breaks below the 200-Day EMA, it may indicate a trend reversal and the price may drop sharply to the lower demand zones.

The technical indicators show that the CRO crypto has dropped below the 20-Day and 50-Day EMA in the daily chart, suggesting a mild beamish outlook in the short term. At the time of writing, RSI was at 46.60 points and that of the SMA line was at 38.72 placed below the RSI line suggesting a short term consolidation.

Cronos Price Prediction January 2024

Cronos Price Rebounds From Support: Can CRO Resume Its Bull Run?
CRO/USD Chart by TradingView

As per the most optimistic view of our analysts, the CRO price could reach a high of $0.088 by January end. The less optimistic view of the analysts hopes for the price to break below the 200-Day EMA and test lower support levels.

Cronos Price Prediction 2024

The analysts have a wide range of price targets for 2024. The most optimistic view of analysts assumes the CRO crypto could attain a high of $0.133, suggesting a potential gain of over 60.60%. The lower price target for the crypto as per the analysts is $0.113.

Cronos Price Prediction 2025

On the most bullish observation, Cronos crypto could hit the high mark of $0.189 before the end of 2025. On the flip side, the most pessimistic prediction of our analysts is the $0.141 mark.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

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