Cronos (CRO) Price Breakout Rally Hints At A 40% Upside?
Amid increased price volatility in the crypto space, Ethereum price has reclaimed the $2.7K tag. With this, top altcoins have breached their respective resistance levels and have recorded a significant uptrend with some tokens experiencing a surge of over 30% within the past 24 hours.
Furthermore, with a surge of approximately 16%, the Ethereum-based Cronos token has secured a spot in the daily top gainers list. With questions like “Will CRO price hit $0.15?” and “What is the expected price of Cronos?” are you planning on investing in this crypto token?
Dive in as, in this article, we have covered the in-depth market sentiments, price analysis, and possible short-term price targets of the Cronos (CRO) token.
CRO Price Records Increased Bullish Action:
With a trading volume of $79.82 Million and a jump of over 15% within the past day, the Cronos price has successfully breached the resistance trendline of its falling wedge pattern in the 1D time frame. Furthermore, it has recorded a 24-hour high of $0.1058, indicating increased bullish influence.
TradingView: CRO/USDT Moreover, the altcoins continue recording a bullish action by adding 11.99% within the past week and 9.38% over the past 30 days. Notably, with a trading price of $0.09410 and a circulating supply of 26,571,560,696 CRO tokens, it has secured the 30th spot with a market cap of $2.504 Billion.
The RSI indicator has retested its oversold range and has recorded a sharp rise toward the overbought range. Further, its average trendline has experienced a bullish convergence and displays a bullish action, highlighting that the CRO price will continue gaining value in the coming time.
Further, the Simple Moving Average (SMA) has displayed a bullish crossover in the Cronos price chart. This indicates a positive outlook for the altcoin in the crypto market.
Will Cronos Price Reclaim $0.15 This August?
If the market continues trading under a bullish sentiment, the CRO coin price will retest its resistance level of $0.12125. Maintaining the price at that level will set the stage for Cronos crypto token to attempt to test its upper resistance level of $0.15 during the upcoming weeks.
On the flip side, if a trend reversal occurs, the CRO crypto will lose momentum and retest its support level of $0.08415. Moreover, if the bears continue to overpower the bulls, this could result in the Cronos price plunging toward its crucial support trendline of $0.07225.
