Amid increasing price volatility in the crypto space, Ethereum price has reclaimed the $2.7k mark, with top altcoins breaking their respective resistance levels and recording a significant uptrend, with some tokens recording over 30% gains in the last 24 hours.
Moreover, Ethereum-based Cronos token has secured a place on the list of daily top gainers with a rise of around 16%. With questions like “Will CRO price reach $0.15?” and “What is the expected price of Cronos?”, are you planning to invest in this crypto token?
Dive in, as in this article, we have covered in depth the market sentiment, price analysis, and possible short-term price targets of the Cronos token (CRO).
CRO price records increasing bullish activity:
With a trading volume of $79.82 million and an increase of over 15% within the past day, Cronos price has successfully broken the resistance trend line of its falling wedge pattern on the 1D time frame. Moreover, it has recorded a 24-hour high of $0.1058, indicating increasing bullish influence.
Moreover, the altcoin continues to record a bullish trend by gaining 11.99% in the past week and 9.38% in the past 30 days. 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 capitalization of $2.504 billion.
The RSI indicator has retested its oversold zone and has seen a strong rise towards the overbought zone. Moreover, its average trend line has undergone a bullish convergence and is showing bullish action, suggesting that the CRO price will continue to appreciate in the coming period.
Furthermore, the Simple Moving Average (SMA) has shown a bullish crossover on the Cronos price chart. This indicates a positive outlook for the altcoin in the crypto market.
Will Cronos price regain $0.15 this August?
If the market continues to trade under a bullish sentiment, the CRO coin price will retest its resistance level of $0.12125. If the price holds at this level, it will set the stage for the Cronos crypto token to attempt to test its upper resistance level of $0.15 in the coming weeks.
On the downside, in case of a trend reversal, the CRO cryptocurrency will lose momentum and retest its support level of $0.08415. Moreover, if the bears continue to overpower the bulls, it could result in the Cronos price crashing to its crucial support trend line of $0.07225.
