Cronos Price Analysis – April 6
The Cronos price is trading downwards, just like any other altcoins in the crypto market.
Resistance levels: $0.58, $0.60, $0.62
Support levels: $0.32, $0.30, $0.28
CRO/USD is back in the middle of consolidation as the coin drops below the 9-day and 21-day moving averages today. The Cronos price is now roaming around the $0.44 level. However, if the market continues the down-surge and squeeze, the $0.40 support is likely to surface in the next few negative moves. More so, CRO/USD pair might further look for lower price levels if the bears continue to show commitment.
Cronos Price Analysis: Would CRO Price Gain More Lows?
The Cronos price is currently trading below the 9-day and 21-day moving averages as the technical indicator Relative Strength Index (14) moves to cross below 50-level. Meanwhile, taking a look at the daily chart, traders can see the trading volume is becoming low, and the coin may likely create a new low before crossing above the channel.
Therefore, if CRO/USD pair continues to stay under the control of bears, the price may reach the support levels of $0.32, $0.30, and $0.28. On the upside, if the bulls step back and push the coin above the 9-day and 21-day moving averages, traders can expect a bullish cross above the upper boundary of the channel to hit the potential resistance levels at $0.58, $0.60, and $0.62.
CRO/BTC Market: Price May Head Downwards
Looking at the daily chart, CRO/BTC is likely to cross below the 9-day and 21-day moving averages. The price is ranging on the daily chart as bulls could not attempt to push the coin back higher. However, the CRO price is likely to create an uptrend if the bulls take the coin above the channel. However, any further bullish movement could take the coin to the resistance level of 1200 SAT and above.
However, looking at the current technical indicator Relative Strength Index (14) on the daily chart, it appears that bears are coming into focus if the signal line moves below 50-level. Meanwhile, if the CRO price crosses below the 21-day MA, it could hit the support level of 850 SAT and below.