Cronos Crypto: Could CRO Crypto Dominate In 2024?

• 1 Cronos crypto is trading above the key moving average.
• 2 CRO crypto price surged by 66.14% in a month.

Crypto(dot)com is a platform that lets users do many things with cryptocurrencies, such as buying, selling, storing, and playing with them. It also has other services and products, such as a mobile app, an exchange, a wallet, and a Visa card that lets users spend their cryptocurrencies anywhere. It also has its own EVM called CronosScan, which is used to run smart contracts on the Crypto(dot)com platform.

Cronos (CRO) is the token of Crypto(dot)com. It is a type of token that works on the Ethereum blockchain, which makes payments for goods and services on the crypto(dot)com platform possible. It can also be used to pay trading fees, buy other cryptocurrencies, like Bitcoin and Ethereum, and even get discounts on the crypto(dot)com Visa card.

The company was started in Hong Kong as “Monaco” in 2016 by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo. In 2018, the company changed its name to crypto(dot)com after buying the domain from a cryptography researcher and professor named Matt Blaze.

Indicator Evaluation of Cronos Crypto on a 1-day Time Frame

Source: Tradingview

The Cronos (USD: CRO) cryptocurrency is currently trading above its 50-day and 200-day exponential moving averages (EMAs), which supports its price momentum. The current RSI value is 57.97 points. The 14 SMA is above the center line at 66.26 points, indicating the bullish nature of the Cronos cryptocurrency.

The MACD line at 0.0070 and the signal line at 0.0085 are above the zero line. There is a bearish crossover in the MACD indicator, which indicates weak momentum in the price of the CRO cryptocurrency.

What Cronos Crypto Chart Shows?

Source: Tradingview

Cronos price was in an uptrend in the last session, rising above its 100-day SMA near the $7.60 cluster in the bullish zone. The chart highlights the bullish momentum. Moreover, the price action is favorable for buyers and the charts show steady growth. The price of Cronos is on an upward trajectory towards $0.1000; if it exceeds this, the price will return to the high of $0.1230. Conversely, the lower trajectory is near $0.0834.

At press time, CRO was bullish, up 3.91% intraday and trading at $0.0957. Moreover, the 24-hour trading volume is $19.171 Million. However, the market capitalization of CRO is $2.408 Billion.

The crypto performance throughout the year was excellent. It noted positive returns of 66.84% year to date, 58.28% for the last 6 months, 87.08% for the past three months, and 41.42% for the past year. This indicates a continuing bullish trend that has not yet been reversed.

Summary

The technical oscillator of Cronos (USD: CRO) supports the bullish trend. MACD, RSI, and EMAs show positive signals, suggesting that the upward trend in the price of the CRO cryptocurrency may continue. Price action suggests investors and traders are optimistic on a daily basis. Price movements reflect the current optimistic outlook. However, investors and traders must wait to be properly prepared for the next step and avoid FOMO.

Technical Levels

Support Levels: $0.1229.

Resistance Levels: $0.0834.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions

Adarsh Singh

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.

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