Decoding, Cronos (CRO) Price Structure

9 ago

After a drastic fall from $1 to $0.048 in the past, the price structure showed advancement in price by more than 260%, marking a YTD ATH of $0.1795 by March 10th, 2024.

However, the gains were not sustainable as the prices deteriorated under bear dominance; despite several attempts at resurgence, a fall was imminent, and the fall led to its original demand zone.

At press time, the displayed surge amid the devolopment news coincides with the demand zone optimism. The price struggles to pierce 50-day EMA, but once pierced, it could go upwards after successful sustenance above the previous swing high at $0.095.

The successful sustenance would prepare the CRO price for further surge beyond the 200-day EMA band.

The MACD showcased growth potential via a bullish cross, as the histogram stands at 0.000026. Also, the RSI flashed at 53.88 after jumping from 14-SMA and piercing the median line.

Therefore, the CRO price’s resistance for a major rally lies between $0.105 and $0.121, followed by supports at $0.080 and 0.070, respectively.