Cronos Price Analysis – April 26
The Cronos price is seen hovering below the moving averages as the coin trades at the $0.38 support level.
CRO/USD Market
Key Levels:
Resistance levels: $0.45, $0.47, $0.49
Support levels: $0.33, $0.31, $0.29
In the early hours of today, CRO bulls were rejected around the $0.40 resistance level as the coin dropped toward the support level of $0.38. The price is sliding below the 9-day and 21-day moving averages as the technical indicator Relative Strength Index (14) indicates increasing bearish momentum, suggesting that the market sentiment is presently bearish.
Cronos Price Analysis: CRO Price May Drop More
At the time of writing, the Cronos price is changing hands at $0.38 where it faces down, but if the Cronos price rises and trades above the 9-day and 21-day moving averages, the coin may begin its upward movement to retest the previous high. Moreover, the nearest resistance levels could be found at $0.45, $0.47, and $0.49 while facing the lower boundary of the channel could hit the support levels at $0.33, $0.31, and $0.29 respectively giving a low trading volume.
CRO/BTC Market: Consolidating to the Downside
When compared with Bitcoin, the Cronos price stays below the 9-day and 21-day moving averages as the coin continues the bearish run. However, the next level of support may surface at 980 SAT, which could then locate further key support at 930 SAT and below if the sell-off later becomes huge.
On the upside, if the bulls gather enough momentum and push the Cronos price above the upper boundary of the channel; CRO/BTC could locate the potential resistance level of 1050 SAT. Any further bullish movement above this level may hit the resistance level of 1080 SAT and above while the signal line of the technical indicator Relative Strength Index (14) moves toward the 50-level, if it crosses above this level, it may suggest more bullish signals into the market.
