Cronos Price Prediction: Potential Recovery Amidst Selling Pressure
The Cronos price is currently at $0.052, and while there may be a risk of it losing ground and falling below $0.050, there is potential for recovery if it surpasses $0.060. Here are the key points to consider:
- Cronos market cap is at $1.3 billion
- Circulating supply is 25.6 billion
- Total supply is 30.2 billion
- Cronos is currently ranked #35 on Coinmarketcap
Technical Analysis of CRO/USD
At present, CRO/USD is defending the support level at $0.051. However, if it fails to recover and stays below $0.055, there is a likelihood of bearish momentum and a potential break of the nearest support at $0.051. Key levels to watch are:
- Resistance levels: $0.065, $0.070, $0.075
- Support levels: $0.040, $0.035, $0.030
Cronos Price Prediction: Possible Scenarios
If sellers push the price lower, expect strong support at $0.050, followed by $0.045. Further support may be found at $0.040, $0.035, and $0.030. On the other hand, if buyers gain momentum and bounce back from $0.052, the first resistance level is at $0.060, followed by $0.065, $0.070, and $0.075.
CRO/BTC Analysis
CRO/BTC is currently trading at 202 SAT, with a potential retreat from the daily high at 210 SAT. If the price falls below the moving averages, the next support level could be at 185 SAT. Further bullish movement may lead to a cross above the channel, potentially reaching the resistance level of 220 SAT.
Cronos Alternatives
As the Cronos price shows positive movement, it is worth noting that another cryptocurrency is gaining momentum. With a successful presale that raised over $25 million, this alternative is ready for its official launch.
Hot Take:
While there is a possibility of a price drop for Cronos, the market also presents opportunities for recovery. It is crucial to watch key support and resistance levels to determine the next move for CRO.
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