- The Cronos crypto price has advanced by 83% in the last year.
- The sentiment of the CRO crypto is bearish, as per CoinCodex.
Crypto.com offers cryptocurrency services, including trading, storage, and a Visa card for crypto payments. In 2023, it obtained a Virtual Asset Service Provider license in Dubai.Â
Cronos is its blockchain, focused on DeFi, NFTs, and gaming, with initiatives like Cronos Rollups and the Cronos Gravity Bridge. Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo founded Crypto.com in 2016.
The Cronos token price is trading 980% above its all-time low price of $0.01149, and its market cap has advanced by 3.8% in the last 24 hours. Even though there is no significant action in the traded volume of the crypto, it is trading with a slight increase of 1.35%.
Cronos is the 30th largest cryptocurrency globally, with a market cap of $3.328B. This further results in a market cap dominance of 0.14%. Also, the total value locked for the crypto is $489.88M.
The stablecoins market cap of the crypto is $5.9K, the recorded fees for the crypto are worth $8.2K, and the bridged TVL of the crypto is $1.011B. The value of the traded volume for the crypto in the last 24 hours is $20.265M, followed by the volume/market cap ratio of the crypto at 0.60%.
The price volatility of the Cronos token is also high, resulting in 6.63%, and the fear and greed index is at 66, indicating greed among investors. The crypto was released on November 12, 2018.
With a circulating supply of 26.571B CRO, the fully diluted crypto market cap is $3.79B. Also, the total supply of the crypto is 30.0B CRO, and the maximum supply is 30.263B CRO. The Onchain market cap of the crypto is $12.438B, and it has 309K holders of its token.
Cronos Crypto Derivatives Analysis
Over time, Cronos crypto has shown higher long liquidations, further showing sellers’ dominance. Despite this, the most recent activity of the derivatives data does not support the sellers, as a higher short liquidation of $1.76K can be seen against the long liquidation of nil.
The trading volume of crypto derivatives has declined 25.4% over the last 24 hours, which has resulted in $6.58M. The open interest in crypto has increased by 4.5% in the previous 24 hours, valued at $6.58M.
Cronos Crypto Technical Analysis
The price of the CRO crypto is sustaining at the lower levels after a substantial decline of more than 85% from the all-time high price. The cost of crypto is currently forming a higher structure on the charts. The following price behaviour shows the participation of buyers in crypto.
While looking at the most recent price action on the weekly chart, it can be seen that the price has formed a most recent swing high of $0.1850. If the crypto price further breaks above the following swing high, a further surge in the cost of the CRO crypto can be seen.
CRO/USD Chart by TradingView
The 50-day and the 200-day EMAs on the daily chart are trading in a golden cross while the price of the CRO crypto is revolving between the following EMA bands. If the price breaks above the 50-day EMA, it might continue the bullish trend of crypto.
The MACD indicator needs a strong reversal as the current scenario gives a sell signal followed by the decline in the MACD and the signal line below the zero level.
The RSI has also declined to 40.09 from the overbought zones. It also has slipped below the 14-day SMA, indicating weakness in the momentum of the crypto price.
Summary
The future direction of Cronos crypto remains uncertain despite recent advancements and trading patterns. While the price shows signs of potential upward movement, such as forming higher highs, the market sentiment is bearish. Further analysis suggests potential bullish trends if crucial resistance levels are broken, but caution is warranted.
Technical Levels:
- Support Levels: $0.050 and $0.0830
- Resistance Levels: $0.1800 and $0.4800
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.