Days after recording a new yearly low, the Cronos (CRO) price launched its new roadmap on 06th November. Following the release, its native token “CRO” experienced a strong bullish reversal. This resulted in this altcoin regaining the spotlight of the crypto market.
However, with the recent price surge, investors are concerned if this altcoin will continue adding value or lose momentum with time. In this article, we have covered the short-term prospects of this Cronos crypto token.
CRO Price Records Multi-month High!
With a jump of ~32% in the past 24 hours with a trading volume of $128.53 million, this altcoin has maintained its upward trajectory. Notably, it has surged 51.92% over the past 4 days, resulting in it retesting its June high.
The altcoin was constantly trading under a bearish influence by recording lower lows since August. However, with the bullish trend reversal this week, the Cronos token has regained momentum and eyes to potentially retest its $0.15 level this month.
Cronos Technical Sentiments
The EMA 50/200-day shows a bullish curve in the 1D time frame. This highlights a positive outlook for the altcoin during the upcoming time.
The Relative Strength Index (RSI) has successfully retested the oversold range in the CRO price chart. Following this, it experienced a sharp rise, resulting in it surpassing the overbought range within this week.
Will CRO Coin Price Hit $0.15?
If the market continues to maintain the bullish sentiment, this could result in the Cronos price retesting its resistance level of $0.121. Further, if the bulls outrun the bears, this altcoin may head toward its upper resistance level of $0.141.
On the contrary, if the market experiences an increase in the profit booking, the CRO price may plunge toward its support trendline of $0.08415. Moreover, if the bulls fail to hold momentum at that point, it could retest its low of $0.06725.
Curious to know if this altcoin will explode during the upcoming bull run? Read CoinPedia’s Cronos (CRO) Price Prediction to find out!
FAQs
Following its releveling of the new roadmap on 06th November, this altcoin has experienced a positive approach from the market.
With increasing bullish sentiment in the crypto market, the CRO coin price hints at a promising future.
A retest to its important support level of $0.08415 can be considered a critical watch zone.
