Dacity Coin
Injective
NEAR Protocol
Quantus
Bitcoin
Pearl
Sui
- Cronos Price Prediction is bearish till it trades below $0.006427 level.
- CRO Price enters consolidation near the demand zone.
- The Cronos Price is struggling to climb above the 50 day EMA.
Cronos Price Prediction is bearish till price is trading below the $0.006427 level. However, the price is near to the demand zone and short term pull back is possible.
CRO Price is trying to climb above the 50 day EMA to turn the short term trend in the favor of bulls. Well, the 200 day EMA slope downward indicates the positional trend is down and bears continuing the dominance.
In the beginning of May, Cronos Price dropped below the crucial support at $0.06000. It hurted the sentiment of investors and invites further decline.
The downfall halted near $0.05000 and buyers are trying their best to defend its long term demand zone. The short term pull back is facing difficulty to sustain the higher levels shows the presence of sellers.
Cronos Price performed well in the beginning of 2023 and generated a decent return for short term traders. Sadly, the buyers failed to hold the higher levels and slowly eroded the complete gains.
Cronos Price is trading at $0.05756 with an intraday rise of 1.23%. The 24 hour volume to market cap is 0.57%. The pair of CRO/BTC is 0.00000188 with an intraday rise of 1.62%.
Is the downfall halted in Cronos Price?
Cronos Price is forming a bearish pattern no signs of recovery is visible. The price is consolidating in the narrow range between $0.05000 to $0.06427. If it continues to consolidate for a few months then it might be an indication of base formation.
If the buyers succeed to hold the price above the 50 day EMA then the probability of upward range expansion will increase.
The downfall in the CRO Price seems to be taking halt but buyers look reluctant to build fresh long positions. The technical analysis Cronos Price is in bear grip and possibility of sharp U-turn is low.
CRO Price Analysis on weekly time frame
CRO Price formed a small size bullish candle on a weekly time frame but it lacked the momentum. The overall crypto market is bullish despite that CRO Price is in bear grip indicates buyers lacked the confidence.
Well, if the overall market continues to perform well then it might positively impact CRO in the long run.
The MACD curve is facing a hurdle near to the zero line but histogram bar is on rise indicates mild bullishness. The RSI curve at 54 denotes neutral territory and more consolidation is possible.
Conclusion
Cronos Price Prediction is bearish but short term pull back is possible. CRO Price is near to the demand zone and buyers are trying their best to rebound. The downfall is halted but the probability of taking a sharp U-turn remains low.
Technical levels
Resistance levels: $0.06427 and $0.08377
Support levels: $0.05000 and $0.04500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
