10 June 2023 : In this article we will walk you through Cronos price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Cronos, Is CRO a good investment? Cronos support & resistance levels etc. But before diving deep into the CRO technical analysis, let us talk about the current market conditions.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,044,287,805,575. The total trading volume stands at $48,526,744,908. Bitcoin shares 47.71 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $25,681.96 level after a decline of -3.46%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -5.73 percent reaching to $1,743.22 during the previous 24 hours.
While publishing this blog, BNB traded at $235.94, following a price change of -10.21%within the same time frame. XRP the native coin of XRP is down by -7.62 and currently trading at $0.49. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.
Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Cronos (CRO)
|CRO Resistance Levels||CRO Support Levels|
|Resistance Level 1||$0.11||Support Level 1||$0.095|
|Resistance Level 2||$0.12||Support Level 2||$0.085|
|Resistance Level 3||$0.13||Support Level 3||$0.078|
According to Price Analysis Market Index, Cronos (CRO) is trading at $0.052 with a trading volume of $16,441,362.00. However,CRO has a price decline of -10.26% in the last 24 hours.CRO price changes -12.16% over the week with a total market capitalization of $1,319,933,233.00 USD.
CRO price analysis for 10 June 2023 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Cronos.
|Simple Moving Average (10)||0.10||Sell|
|Exponential Moving Average (10)||0.11||Sell|
|Simple Moving Average (20)||0.11||Sell|
|Exponential Moving Average (20)||0.11||Sell|
|Simple Moving Average (50)||0.11||Sell|
|Exponential Moving Average (50)||0.11||Sell|
The Cronos has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take CRO price below the crucial support level of $0.095. The MACD line is standing below of the signal line after a crossover. Cronos investors need to wait for any directional change over the daily chart. The relative Strength Index (RSI) indicates that the CRO coin is in consolidation zone, as RSI is at 44. While CRO’s Williams %R indicator is at -11.809 for the 14-day time period indicating a overbought condition and short term trend price correction is possible.
The value of CRO is continuously dumping but it is expected that support levels at $0.095 and $0.085 will act as crucial points and bounce the trend line in the bullish zone