based on materials from the website - By TheNewsCrypto

A short bullish momentum drives the cryptocurrency market: a jump of 2.46% reached $4.06 trillion. Against the backdrop of 'bulls,' the green flag is waving as almost all major assets, including the largest ones, are falling in price. Bitcoin (BTC) and Ethereum (ETH) are trading higher, gaining momentum.

In the altcoin market, Cronos (CRO) recorded a growth of more than 7.84%. The opening price of the asset was around a minimum of $0.1558. As the bulls regained their strength, CRO began to rise to a maximum of $0.1696. Notably, its key resistance levels between $0.1562 and $0.1692 were tested.

CoinMarketCap data shows that Cronos is currently trading around $0.1715, and its market capitalization has reached $5.55 billion. Meanwhile, the daily trading volume of the asset has increased by more than 31.94%, reaching $46.29 million.

On the seven-day chart, CRO has seen a growth of more than 26.53%. The weekly minimum of the asset was recorded around $0.13. After a series of ups and downs, the price reached the current trading level.

As the bulls of Cronos take the initiative, the price may rise and test initial resistance in the range of $0.1720. Further upward correction could trigger the formation of a golden cross and push the price above $0.1725. On the other hand, if the asset loses momentum, it may pull back, finding the nearest support level at $0.1710. A prolonged bearish correction could strengthen the bears and trigger the formation of a 'death cross,' dropping the price of Cronos below $0.1705.


The MACD line (moving average convergence and divergence) of the asset crosses the signal line from below, indicating a bullish signal in technical analysis. Its momentum shifts upwards, and the asset's price may rise. Additionally, the Chaikin Money Flow (CMF) indicator for Cronos, positioned at 0.42, is considered distinctly bullish. This value indicates a significant inflow of capital into the asset; active purchases are observed, and the price increase may continue.

The daily Relative Strength Index (RSI) for Cronos, positioned at 77.06, indicates an overbought zone. Strong bullish momentum suggests a risk of a pullback or correction. Additionally, the Bull Bear Power (BBP) indicator value at 0.0176 indicates that bulls currently have a slight edge over bears. The asset's price can easily change in either direction.


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