Cronos Price Prediction: CRO Investors Must Push Crypto Above 20 EMA Soon

• Cronos (CRO) price is gearing up for a quick bullish rally ahead.
• Buyers are struggling to break the 20-day exponential moving average heading into the weekend.
• Market cap rose 2.61% overnight to $1.15 billion.

Native token of the Cronos chain – Cronos (CRO) has found support levels this week, so the price of the crypto is gradually rising. CROP crypto also dropped dramatically due to the recent cryptocurrency crisis, which forced many retail investors out of the market. Uncertainty is not yet removed from the CRO market.

Amid a downtrend, the Cornos token recorded the latest yearly low at $0.05514. Later, the CRO market cap gradually heals. At the time, the market capitalization was $1.15 billion, up 2.61% in the past 24 hours.

As of now, the Cronos (CRO) price is gradually rising towards the upper zones, causing the weekly price candle to remain 5.8% higher so far. Buyers are bracing for a positive bullish weekend after two strong red candles. For the short-term outlook, the CRO token is bottoming out as buyers found a demand zone at the $0.055 level.

Hourly price action is trending lows so far. Meanwhile, buyers are struggling to break the 20-day exponential moving average heading into the weekend. If the buyers close a weekly close above the 20 EMA, they can push it towards the next resistance zone of $0.0763. The trading volume looks low and the bulls need more accumulation for a bullish breakout.

On the daily price chart, the RSI indicator climbed towards the halving (50 mark) after reversing from the oversold zone. Similarly, the MACD rises higher to move above the neutral zone, while the histograms show high-highs. Conversely, the ADX indicator is declining from the ongoing rally, which is not good for greater sustainability.

Conclusion

The Cronos (CRO) coin forms the third daily bullish candle on December 24th. However, the buyers are motivated to propel the crypto higher, but today’s exponential moving average interrupts the current trend. Other than that, RSI and MACD favor a positive scenario.

Support level – $0.055

Resistance level – $0.080 and $0.0125

Disclaimer

The views and opinions expressed by the author, or anyone named in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto assets involves the risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies during his post-grad studies. He is a fine observer of details and shares his passion for writing while being a developer. His backend blockchain knowledge helps him bring a unique perspective to his writing

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