What to Expect After Crypto.com (CRO) Price Loses Critical Support (2024)
The Crypto.com (CRO) price fell below a minor support area. This could be the first step toward a larger and more significant price decrease.
CRO is the native token of the Crypto.com exchange. The CRO token price has fallen under a long-term descending resistance line since reaching an all-time high price of $0.955 in November 2021. The downward movement led to a low of $0.053 in November 2022. The price has increased since, validating the $0.060 horizontal area as support.
Despite the increase, CRO failed to break out from the resistance line. Rather, it was rejected after reaching a new yearly high of $0.095. Moreover, the weekly RSI is still below 50, a sign of a bearish trend.
Nevertheless, the CRO coin price created a higher low in March, validating the $0.060 support area again (green icon).
Whether the price breaks out from the resistance line or falls below the $0.060 area instead could determine the future trend. A breakout could take the crypto.com price to the $0.118 resistance area, while a breakdown could catalyze a sharp fall to $0.030.
Sponsored
Sponsored
While the weekly chart presents a mixed outlook, the daily one is decisively bearish. The main reason for this is the loss of the $0.073 horizontal area and its validation as resistance (red icon). This also coincided with an RSI rejection from the 50-line (red circle) and bearish divergence trend line (green).
As a result, a drop to the short-term ascending support line is the most likely scenario. The line coincides with the previously mentioned $0.060 support area. Therefore, whether it bounces or breaks down could determine the future trend.
On the other hand, reclaiming the $0.073 area would mean that the CRO price has also broken out from the long-term descending resistance line. As a result, this could catalyze an increase toward $0.118.
Sponsored
Sponsored
To conclude, the most likely CRO price forecast is a fall toward $0.060. The reaction once it gets there could determine the future trend. On the other hand, reclaiming the $0.073 area would invalidate this bearish prediction. In that case, the CRO price could increase to $0.118.
For BeInCrypto’s latest crypto market analysis,click here.
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that ourTerms and Conditions,Privacy Policy, andDisclaimershave been updated.
According to the deep technical analysis on past price data of CRO, In 2029 the price of Cronos is predicted to reach at a minimum level of $1.01. The CRO price can reach a maximum level of $1.21 with the average trading price of $1.05.
The live price of Cronos crypto is $ 0.09139864. Cronos coin price is expected to go as high as $0.231 by the end of 2024. CRO crypto may cross the $1 mark, with a potential high of $1.105 by the end of 2030.
According to our current Cronos price prediction, the price of Cronos is predicted to rise by 3.01% and reach $ 0.094139 by August 25, 2024. Per our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 72 (Greed).
Max supply refers to the closest possible approximation of how many coins a cryptocurrency will have in total throughout its existence. Once the maximum supply of the assets is reached, there can be no more coins produced in any way.
The average price target for Cronos Group is $2.81. This is based on 4 Wall Streets Analysts 12-month price targets, issued in the past 3 months. The highest analyst price target is $3.50 ,the lowest forecast is $2.10. The average price target represents 16.12% Increase from the current price of $2.42.
Cronos's price prediction for the most bearish scenario will value CRO at $0.071 in 2024. Cronos's previous All Time High was on 24 November 2021 where CRO was priced at $0.96.
How many Cro tokens will be burned each month? A further 10.4 billion tokens are locked in a smart contract for burning each month as they become unlocked. As such, a total of 70 billion tokens, or 70% of Crypto.com's original CRO token supply, will be burned.
By delegating your CRO to a validator, you will receive rewards for helping to secure the network. The current annual yield on Cronos is around 11%. You can stop staking your CRO at any time but all Cronos validators have a minimum lock-up period for staking, which is currently at least 28 days to unlock your assets.
The technical chart of CRO token highlights the selling pressure faced due to the overall market conditions and social sentiment created for Crypto.com. The expansion of Bollinger Bands on the downside reflects the magnitude of the downfall faced by the token.
Based on our long-term Cronos Coin price forecast, we anticipated that prices could reach a new all-time high this year. By 2040, the maximum price of the CRO Coin is projected to be around $1.832. Our average price forecast for Cronos is $1.794 in 2040.
The quest for $2 may be optimistic for Cronos (CRO), but anchored in concrete developments and growth strategies, it's a scenario that is not beyond the realm of possibility.
Core DAO would need to gain 7,346.98% to reach $100. According to our Core DAO prediction algorithm, the price of Core DAO will not reach $100. The highest expected price our algorithm estimates is $ 60.19 by Jan 1, 2049.
Despite this predicted increase, our technical indicators currently show a bearish sentiment. The Fear & Greed Index is at 71, indicating greed. Over the past 30 days, Cronos has had 15 out of 30 green days (50%) with a price volatility of 4.01%. Based on this forecast, it appears to be a bad time to buy Cronos.
Cronos is expected to reach a maximum level of $1.78 in 2030. Cronos (CRO) is the native cryptocurrency token of the Crypto.com Chain, a decentralized, open-source blockchain developed by the Crypto.com payment, trading, and financial services company.
Will CRO Predict reach $10? CRO Predict would need to gain 1,428.23% to reach $10. According to our CRO Predict prediction algorithm, CRO Predict will hit $10 in August 2040.
Leading experts in the crypto industry believe that Cronos has enormous growth potential in the future. They expect that within the next four to six years, the Cronos coin's value can rise dramatically with more investment and usage.
Introduction: My name is Domingo Moore, I am a attractive, gorgeous, funny, jolly, spotless, nice, fantastic person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
