CRO/USD Spiked on Both Sides

The Cronos market has been in a downtrend since the market peaked at the $0.1185 resistance price level on the 3rd of August. The bears have since then had the upper hand. They drag the bulls along down the slopes as the bulls made fruitless efforts to reclaim their ground market. The bullish attempts were not as strong as the bearish move in the market. However, the bullish attempt on the 22nd and 23rd of September were much stronger compared to other bullish moves in the market. They pushed the price to $0.1231; at that resistance level, the market resumed the bearish trend again. And today, the price is back to where it took off for a bullish trend on the 22nd of September.

 Cronos Market Price Statistic:

• CRO/USD price now: $0.09841
• CRO/USD market cap: $2,484,383,704
• CRO/USD circulating supply: 25.26 Billion
• CRO/USD total supply: 30,263,013,692
• CRO/USD coin market ranking: #27

Key Levels

Resistance: $ 0.1048, $0.1100, $0.1200 

 Support: $0.9000 $0.8000, $0.7000

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Cronos Market Price Analysis: The Indicators’ Point of View

Bullish attempts to take the market continue to grow as the market progresses day by day. This resulted in the formation of a falling wedge trend pattern. This is a sign that the bulls are gathering momentum and may soon take the market. The candlestick pattern that represents today’s trading session portrays high volatility in the market. Buyers are violently responding to the strong selling pressure in this market. However, their strong resistance is not yet reflected in the indicators. But, it is likely the table turns in favour of the buyers. For this to happen, the buyers should not relent at this time. The RSI line is almost getting to the oversold territory. When this happens, buyers may use this opportunity to take the market.

CRO/USD 4-Hour Chart Outlook 

Looking at the market from this point of view, we may conclude that the bulls may not be strong enough to cause the uptrend As the trendline indicator portrays a strong bearish trend. However, with the market now in the oversold zone, we may expect that the price will reverse. As we can see in the third-hour bulls are now almost catching up with the bears.

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