thecoinrepublic.com
- 1 Cronos price prediction is bearish for the short term till it trades below the 200-day EMA.
- 2 CRO price is in a downtrend and facing a hurdle at the 50-day EMA.
- 3 Cronos price is prepping for a short-term pullback rally.
Cronos price prediction is bearish for the next few months till it trades below the 200-day EMA.
CRO prices seem to be stuck in the narrow range between $0.04756 to $0.05567. It has consolidated for a long time and formed a strong base but sellers still look more active as compared to buyers. Therefore, the probability of the downside range expansion is high.
Cronos crypto price is in a downtrend and trading below the 50-day and 200-day EMA. Buyers tried multiple times to climb above the 50-day EMA to regain the confidence of investors. However, the price faced rejection and continued to trade below the EMA.
The price behavior is volatile and the shadows of most of the candles are too big. It shows that short-term speculators are more active as compared to genuine buyers.
Cronos price is trading at $0.05044 with an intraday rise of 2.88%. The 24-hour volume to market cap is 1.15%. The CRO/BTC pair is trading at 0.0000001880 with an intraday rise of 2.68%. The price pattern of both pairs looks similar and sellers remain active.
Will Cronos Price Defend the Recent Low?
Cronos price prediction suggests short-term pullback may get sold off. So, investors must remain cautious and avoid investing money at current levels. At present, the crypto price is stuck in the range but might break either side in the coming months.
Till the CRO price is trading below $0.05567, the bears will remain active and the probability of an upside breakout is low. The overall crypto market is turning bearish so it might fuel the further decline in other altcoins.
The analysis suggests that Cronos price is in a downtrend so it will be difficult for the buyers to defend the recent low.
CRO Price Formed Doji Candle on a Weekly Time Frame
CRO price formed Doji candle on a weekly time frame that indicates indecisiveness. It has corrected a lot from its high but still no signs of recovery are visible. The supertrend says, till the price is below $0.05332, the trend will remain down.
The MACD curve slopes sideways indicating that price may consolidate for some more time before deciding the next direction. The RSI at 49 denotes a neutral zone and an equal level of tug-of-war between bulls and bears.
Conclusion
Cronos price prediction is bearish for the next few months. At present, the CRO crypto price is stuck in the narrow range of consolidation. But the analysis suggests that the Cronos crypto price is in a downtrend so more downside is possible.
Technical Levels
- Resistance levels: $0.05567 and $0.06203
- Support levels: $0.04756 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.