Cronos (CRO) Price Prediction – May 8
There has been a steady flow of declinations in the CRO trading activities against the US Dollar over time. Currently, the crypto-economic price precipitates through supports at variant lower value lines. Price is trading around $0.26 at an average of -2.65%.
CRO /USD Market
Key Levels:
Resistance levels: $0.30, $0.35, $0.40
Support levels: $0.20, $0.15, $0.10
CRO /USD – Daily Chart
The daily chart exhibits the crypto-economic market price precipitates through supports at different lowly trading levels. During the May 4th session, a bullish candlestick emerged against the $0.30 resistance point but, on the following day decimated by another bearish candlestick that has fatefully led the operations into a downing process in continuation of the downward trending outlook that the trade has featured quite a while. The 14-day SMA indicator is underneath the 50-day SMA indicator. And they are far above the current trading zone. The Stochastic Oscillators have sprung northbound from the oversold region, seemingly attempting to cross their lines southbound at the range of 40.
Should traders expect more downing moves beyond $0.20 as price precipitates through the CRO/USD variant supports?
Likely, some downing moves will still occur in the CRO/USD market operations as the crypto-economic price precipitates through variant support at different levels far underneath the SMAs. It may be for a while before significant rebounding efforts be made by the crypto’s long-position pushers to make a come-back. Therefore, it would be technically ideal for buyers to be on the lookout for the emergence of a bullish candlestick at a lower trading spot around the $0.20 before reconsidering a buying back.
On the downside of the technical analysis, the CRO /USD market short-position placers may have to watch out for a continuation of downing forces around the $025 if bulls are unable to get re-energized around it. The sudden breakdown of the value point will possibly lead the price line to a lower-trading spot at the $0.20 support level. In the process of that assumption playing out, any new efforts to launch more sell orders can fetch lesser positive results especially if intended to run for a long-term period.
CRO /BTC Price Analysis
In comparison, Cronos initially was trading against Bitcoin in a manner that showcased variant lower lows around the conjoined SMA trend lines for several days’ sessions. The 14-day SMA indicator has curved southward from the 50-day SMA indicator. And they are over the current market price. The Stochastic Oscillators have moved northbound out of the oversold region to attempt closure of their lines around the 40 range. That suggests the base crypto will potentially experience a pause, trying to make a swing against the counter crypto-economy for a while.
Looking to buy or trade Cronos (CRO) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider.
Read more:
