• Cronos price prediction needs to cross above the $0.085 resistance level quickly to deny the bears the opportunity to enter the market.
• Cronos (CRO) is trading above the 9-day and 21-day moving averages, aiming to cross the channel.
• If the sellers push lower, traders can expect very strong support at $0.070.
Cronos (CRO) is currently trading around the $0.080 resistance level as the coin prepares to gain more bullish signals. The movement to the upside may not allow the coin to bow to the selling activity going on in the market. The Cronos price prediction needs to cross above the $0.085 resistance level quickly to deny the bears the opportunity to enter the market.
Cronos (CRO) is currently trading above the 9-day and 21-day moving averages, aiming to cross the channel. This suggests that the coin is likely to continue its bullish trend in the short term. However, bearish momentum is very likely especially if the bulls fail to push the price above $0.085 and the red line of the 9-day MA crosses below the green line of the 21-day MA.
In order to continue the bullish trend, the Cronos price may need to rise and break above the upper boundary of the channel before resuming the previous trend. On the other hand, if the sellers push lower, traders can expect very strong support at $0.070; this could then be followed up with another attempt to break the resistance at $0.085.
Cronos has a market capitalization of $2 billion and a circulating supply of 25.26 billion coins. The total supply of CRO is 30.2 million and it is currently ranked 28th on CoinMarketCap. The key resistance levels for the CRO/USD pair are $0.105, $0.110, and $0.115 while the main support levels are $0.055, $0.050, and $0.045.
In conclusion, the price of Cronos (CRO) could remain beneath the $0.085 resistance for a while before turning bullish. However, traders should watch for bullish signals if the coin is to continue its previous trend. In addition, the key support and resistance levels should also be monitored for any signs of a break or a bounce.