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CRO rises 25% and analysts project next target at US$0.24 with strong technical support
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The recent 25% increase in the price of Cronos (CRO) generated optimism in the market and raised expectations among investors and analysts. With the current price at $0.137, the cryptocurrency has broken out of a descending channel, which marks a potential trend reversal.
This advance raised the market capitalization to US$3.64 billion, an increase of 8.12%, while trading volume soared 62% in the last 24 hours, according to data from platforms such as TradingView and CryptoQuant.
CRO now seeks to sustain this momentum and reach a new level of resistance. Analysts point to $0.204 as a key level, which represents an additional 48% appreciation from the current price.
If the token reaches this value, it could establish a more solid support zone, enabling further advances. CRO’s upward trajectory, however, will depend on a constant volume of purchases and overcoming technical resistance that arises.
CRO Cryptocurrency
The breakout of the descending channel boosted market optimism as this pattern usually indicates a trend reversal after a prolonged period of decline. This reversal was confirmed by the 9-day moving average, which crossed above the 21-day average, signaling that buyers are dominating the market.
CRO’s Average True Index (ATR) rose to 0.0103, reflecting elevated volatility that could generate significant price swings in the coming days. This scenario requires investors to pay extra attention to support and resistance levels.
In addition to technical data, on-chain indicators reinforce CRO’s bullish outlook. The increase in network activity suggests greater user engagement.
In recent days, the number of active addresses grew by 1.44%, while transactions rose by 1.47%, totaling 2.317 million operations. This increase in activity shows that CRO continues to attract interest from investors, who are increasingly confident in the cryptocurrency’s potential.
On the other hand, market sentiment displays cautious optimism. Data from Coinglass shows that the ratio between long and short positions remains balanced, with 49.17% of positions long (long) and 50.83% sold (short).
This balance reflects uncertainty about whether the uptrend will continue, but a shift in sentiment toward long positions could quickly propel CRO to new highs.
CRO rises 25% and analysts project next target at US$0.24 with strong technical support
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CRO rises 25% and analysts project next target at US$0.24 with strong technical support
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CRO rises 25% and analysts project next target at US$0.24 with strong technical support
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CRO rises 25% and analysts project next target at US$0.24 with strong technical support
