Cronos (CRO) Is Extending Bullish Progress
Estimated Reading Time: 3 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
- CRO remains bullish, supported by a double-bottom pattern and sustained trading above the 9-day EMA.
- Bullish momentum continues despite a slight downward movement in the SRSI indicator.
- The current upward trend could drive CRO toward the $0.0800 price level.
Analysts have spotted a triple-bottom pattern in the Cronos price chart. Even on the daily chart, it seems upside forces are showing a strong presence. Analysts are of the strong opinion that price action may push through to significantly higher price levels. Let’s take a closer look at the market below.
Source: TradingView
CROUSDT on a 24-Hour Chart
Today’s trading has been quite profitable, as bullish momentum seems to be settling into the Cronos market. The ongoing session is represented by a green price candle and, as such, suggests that upside forces are very strong.
Trading remains above the 9-day Exponential Moving Average (EMA) line. The market has been above the 9-day EMA curve for 13 sessions and has stayed there. Meanwhile, the lines of the Stochastic Relative Strength Index (SRSI) indicator have a slight downward path but stand above the 50 mark of the indicator.
Cronos Bulls Are Holding Up Quite Well
The CROUSDT market has stayed quite bullish. Clearly, this has been in place since the market delivered a double-bottom pattern precisely at the $0.0464 price level. As of the latest session, the ongoing session maintains a strong bullish stance, judging by the appearance of the corresponding price candle.
Meanwhile, the momentum can still be reckoned as growing, seeing that the lines of the SRSI are yet to respond to the price movement. Therefore, traders can retain their optimistic outlook.
CRO Targets the $0.0800 Price Level
The price trajectory since the upward rebound off the $0.0464 price level has been upward. At times, price action has moved with significant explosiveness, and at others, momentum has cooled. That said, the upward path has held on strongly. The ongoing session and its indications have kindled hope that the market may trend towards the $0.0800 price level.
