• Sat. Jun 22nd, 2024

Cronos Surged by 0.44% but its Price May Dip to $0.14913, Price Analysis

May 14, 2022

The trading price of Cronos (CRO) is currently standing at $0.23372 per CRO. Cronos has reached this level after experiencing a 0.44% surge. The trading price of Cronos was at a low of $0.218 per CRO when the bulls launched their rally.

Like the rest of the cryptocurrency universe, Cronos is also impacted by the bearish sentiments of investors. After such a long wait, the investors have only mustered a 0.44% rally, which is not promising for Cronos at all.

The investors with bullish sentiments are still not sure where the price of Cronos may lean in near future. There is a lot of uncertainty among the investors surrounding the future price of Cronos. Let us see what the current price trend and the technical factors have to say about Cronos.

Current Price Trend of Cronos

The technical factors currently support the bearish trend. If we look at the relative strength index for Cronos, it shows that it is currently at 20.03168. The RSI is currently displaying a strong selling trend for Cronos.

The ultimate oscillator for Cronos is also at 34.85427, which is also demonstrating a strong bearish inclination. This is yet another major factor that is leaning in favor of the bears so they can continue with their selling sentiments.

The moving averages for Cronos are currently standing at “strong-selling” sentiments. The scale confirms that more than 85% of investors are leaning toward the selling sentiments. Only a small percentage of the investors are siding with buying sentiments.

On the other hand, the oscillator scale is currently moving in the bullish zone. It shows that 45.45% of the total investors are willing to buy Cronos while around 9% of investors are willing to sell it.

Bearish and Bullish Movement of Cronos

With the bearish trend being recorded for Cronos, it is expected that the buyers may fail to handle the pressure coming from the bears.

It means that the bulls may not succeed in sustaining the pressure from the bears and Cronos’ price may fall below $0.23372 per CRO.

Once that happens, the bears may intensify their selling spree. Their aim would be to make the trend even more favorable for their selling activities. This way, the trading price of Cronos may be pulled much lower than its current value.

The data suggests that in the upcoming days, the trading price of Cronos may dip to $0.2268 per CRO. If the selling pressure continues to build over the bulls, they may fall short of their acquisition power. Such sentiments would lower the trading price of Cronos to $0.2108 per CRO.

With the RSI and several other factors backing up the bearish trend with strong sentiments, Cronos’ trading price may dip to $0.2007 per CRO.

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