Though modest, the Cronos (CRO) token has recorded a slight price increase in today’s trading session. This is reflected in its position as the second-best-performing crypto asset today, with a price gain of just 0.75%. Let’s take a closer look at the market.
CRO Statistics
Current Price: $0.1222
Market Capitalization: $4.06B
Circulating Supply: 32.33B
Total Supply: 97.54B
CoinMarketCap Rank: 30
Key Price Levels
Resistance: $0.1250, $0.1500, $0.1750
Support: $0.1200, $0.1000, $0.0800
Cronos (CRO) Hugs Higher Limits
Price action on the CRO daily chart has shown notable bullish momentum. The market has successfully broken above the $0.1000 resistance level. The ongoing session continues to uphold the integrity of this upward movement, with price standing significantly above the middle band of the Bollinger Bands (BB) indicator.
The BB indicator is sloping upward and is well-diverged, signaling room for stronger price movement. Additionally, the Smoothed Rate of Change (SROC) indicator remains above the equilibrium level, technically suggesting that bullish momentum is still dominant.
CRO Appears Capped Below Key Resistance
Shifting to the Cronos 4-hour chart reveals some interesting developments. Price action had previously rebounded off the upper limit of the BB indicator, but recently bounced from the lower limit as well. Currently, the ongoing session is represented by a small red dashed candle, hinting at reduced volatility and indecision.
At this point, the market appears to be testing the middle band of the BB indicator. The SROC line is flattening sideways, which suggests consolidation. However, if upside forces succeed in breaching the middle BB band, the market may continue its trajectory toward the $0.1500 resistance level.
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