• CRO price broke a major resistance near the $0.0735 and the 50-day simple moving average.
• The bulls remained active and pushed the price above $0.0740, up over 15%.
• If the bulls remain in action, there could be a steady increase toward $0.085 or $0.0935.
CRO Price Breaks Key Hurdle
Cronos’s CRO surged above the $0.0740 resistance this month, breaking a major hurdle against the US dollar after forming a strong support base above $0.0655. This upward move is far from over and the price might climb further toward $0.086 or $0.0935 if the bulls remain active in action.
Key Resistances Cleared
The bulls protected more losses around the key support level of $0.0655 and pushed Cronos’s price to break a few hurdles near $0.0720 on its daily chart, including a key bearish trend line with resistance at this level as well as clearing a Fib retracement level of 50% from its swing high to swing low of its downward move from $0.0937 to 060 levels respectively..
CRO outpaced Ethereum and Bitcoin this week, rising nearly 20%. It trades well above both its pivot point of 074 as well as its 50-day simple moving average which means that there is potential for further upside movement should it break past immediate resistance at 0808 levels followed by major resistances at 0850 levels and 0935 respectively which would open up possibilities for testing 1150 levels in future movements for CRO prices .
However if there is no upside break through these resistances then we may see downside corrections come into play with first major supports being seen at 0770 levels followed by 0740 pivot points with any further declines potentially leading to CRO prices trading below their 50-day simple moving averages again towards 0650 support areas .
Overall, it seems like CRO prices are showing signs of bullishness with strong breakout above 0740 levels providing chances for growth upto 0850 or 0935 should bulls remain active in action however any failure to break through these resistances may lead towards downside corrections towards 0770 or 0740 supports respectively .