- Cronos price analysis shows an extremely bearish trend.
- The CRO coin has dropped by 0ver 3.30% at the time of writing.
- Cronos prices have sought support at $0.05562.
Cronos price analysis is showing signs of a decline since the price has been moving in a downward direction over the past 24 hours. Although the cryptocurrency was under bullish influence earlier this week, bears have taken control and dragged CRO/USD levels down to $0.0559 at the time of writing. Both the current resistance level of $0.0578 and the current support level of $0.05562 for the altcoin may serve as pivot points for future price moves. However, the bears have been quite successful as a result of the significant decrease that has had a negative impact on the entire value of cryptocurrencies over the past few hours.
The daily chart price analysis reveals that the CRO is confirming a decline in coin value, as the price has been following a bearish trend for the day. The circumstances are turning favorable for the sellers, as the past few weeks have seen a constant improvement in the CRO market price. Nonetheless, a downturn in price occurred today, which is why the price has been lowered to the $0.0559 mark, a decrease of 3.30 percent in the last 24 hours.
The 50 SMA and 100 SMA are both below the current CRO/USD trading price, indicating that bears have control of the market and a potential decrease in price may occur.More importantly, the Relative Strength Index (RSI) score has moved down to the neutral zone at 39.68, which indicates that buyers are losing their grip on the market and bearish forces are dominating. The moving average convergence and divergence (MACD) level is currently moving into negative territory, with the signal line falling beneath the MACD line.
Cronos price analysis on a 4-hour chart shows that the prices are still heading downward and reached $0.0559 at the time of writing. The short-term trending line has been descending, and the bears have been showing control over the market for the past few hours. The last four hours have been detrimental to cryptocurrency value, with the price falling noticeably. Therefore, the market’s volatility is increasing in response to a movement, which indicates that Cronos’s price is increasingly likely to undergo a variable shift on either extreme.
Overall, the price analysis for Cronos indicates that the prices are going down as they drop below the $0.0559 level. Prices have now found support at the $0.05562 level as buyers move in to defend this important level. The market is particularly unstable as a result of the wide range of price variations. The bears are seen as being in control of the market as they work to force prices lower.
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