Cronos Eyes the $0.05500 Mark While Its Price Only Moved by 0.96%

The price action of the Cronos token maintains an upside focus toward $0.05500, while it has only experienced minimal movements. This seems to be occurring as an extension of the upside correction that happened in this market about three sessions ago.

CRO Statistics:
Cronos Value Now: $0.05238
CRO Market Cap: $1,321,267,944
CRO Circulating Supply: 25,263,013,692
Cronos Total Supply: 30,263,013,692
CRO CoinMarketCap Ranking: 34

Major Price Levels:
Top: $0.05238, $0.05400, and $0.05600
Base: $0.05200, $0.05100, and $0.05000

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CRO Is Retaining Upside Potentials Towards the $0.05500 Mark

Technical indicators in the Cronos daily market are pointing out that price action may advance towards higher price marks. In the ongoing session, traders have retaken control as price action bounced off the 21-day Smooth Moving Average curve.

This indicator line resides above the 9-day SMA curve. Consequently, this is revealing that buyers are making efforts to keep pushing prices upward. Meanwhile, the 9- and 21-day SMA lines can be seen approaching a bullish crossover below the last price candle. So, should the impending crossover on the SMA curves occur, the upside correction will gain more strength.

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Cronos Price Action Looks More Favored to Continue Towards Higher Marks

In the CROUSDT 4-hour market, it appears the downward forces are trying to upset upside ambitions in this market. However, buyers seem to maintain a favorable position for more upside corrections. A red price candle can be seen above the converging 9- and 21-day SMA curves.

Simultaneously, the Relative Strength Index lines have continued rising upwards following an upside crossover in the oversold region. This seems to negate the development of a strong headwind at this point. Consequently, it follows that a correction towards the $0.05500 mark is still a fair target.

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