Price Analysis

Cronos (CRO) Price Due for A 20% Upswing, Will the Price Hit $1.5 This Week?

Written by: Delma Wilson

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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Sep 21, 2022

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Cronos’s price has been dropping hard since the asset underwent a rejection at $1.5, a few days back. Despite a huge selling pressure, the price managed to hold the lower support at $1, aiming to rebound & recover at the earliest. Currently trading at $0.1046 Cronos increased by 0.75% in the last 24 hours. 

Prices on Cronos fell to levels under the corresponding lows of $0.1080 before rising quickly for the next five days. The price fluctuations demonstrate that the CRO generated a series of consecutive lower lows and lower highs.

There is a falling wedge pattern on the graph that indicates an oncoming bullish reversal and predicts a 21% upsurge by comparing the initial swing high and swing low to the breakout point.

The predicted breakout price for Cronos is $0.1120, which places the falling wedge goal for CRO at $0.1360 despite the fact that the platform has yet to produce one. The liquidity resting above the equal highs created at $0.1260 is a conservative aim.

At the range low of $0.0985, another equal low form may be destroyed. Investors should use generous stop-loss levels if they choose to engage in this trade.

The bullish thesis will be refuted if Cronos’s price produces a daily candlestick close below $0.0985 and converts the range low into a resistance level. This modification will cause the CRO price to reevaluate the support floor of $0.0922.

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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