2024

Cronos

MANTRA

Cloud

Flare

CRO was the best-performing crypto asset on Nov. 8 as recent ecosystem developments renewed investor interest in the altcoin. 
CRO (<a rel="" href="https://crypto.news/price/cronos/">CRO</a>) recorded gains of 30% bringing its market cap up from $2.34 billion to over $3 billion last seen 5 months ago. The altcoin has been in a downtrend since March this year as its price fell from its yearly high of $0.169 to $0.07 on Nov. 5. 
The bearish trend for CRO came to an end the next day following two major developments that have fueled the rally over the past two days. 
On Nov. 6, <a href="https://crypto.news/tag/cronos/" target="_blank">Cronos </a><a href="https://x.com/cronos_chain/status/1854037198288691553" target="_blank" rel="nofollow">unveiled </a>its new roadmap, highlighting AI-enabled tools, protocol upgrades, a revised token burn formula, and expanded CRO use cases for dApp development and cloud compute payments. 
A day later, Google Cloud <a href="https://blog.cronos.org/p/cronos-labs-strengthens-google-cloud" target="_blank" rel="nofollow">onboarded </a>Cronos as its primary validator to help secure and maintain the decentralization of the network by producing and confirming new blocks. 
Further, during a Nov. 8 AMA session, Crypto.com founder Kris Marszalek, whose team developed the Cronos blockchain, reiterated the platform’s intention to <a href="https://crypto.news/third-round-of-cronos-accelerator-now-open-for-blockchain-and-ai-startups/" target="_blank">strengthen the ecosystem</a>, stating, “we will make CRO great again.” 
 You might also like: <a rel="" href="https://crypto.news/flare-launches-blockchain-machine-images-on-google-cloud/"> Flare launches Blockchain Machine Images on Google Cloud </a> 
Marszalek’s remarks and the recent ecosystem developments have rejuvenated community enthusiasm, sparking bullish price predictions for the token, with some members eyeing a $10 price target. See below. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 https://twitter.com/CryptoWestttt/status/1854548834707443995 
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When writing, community sentiment around CRO on CoinMarketCap was largely bullish, with 86% of 9,407 traders expecting the price to move up from current levels. Supporting this outlook, CoinGlass data shows a 28% increase in open interest in the CRO futures market to $7.15 million over the past day, alongside a shift in the weighted funding rate from negative to positive. 
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 <img loading="lazy" decoding="async" width="928" height="544" src="https://crypto.news/app/uploads/2024/11/CROUSDT_2024-11-08_14-27-11.png" alt="CRO bearish trend ends amid Google Cloud partnership and roadmap reveal - 22" class="wp-image-14309012">
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 CRO price and ADX chart | Source: <a rel="" href="https://crypto.news/price/cronos/">cr</a><a href="https://crypto.news/price/cronos/" target="_blank">y</a><a rel="" href="https://crypto.news/price/cronos/">pto.news</a>
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Meanwhile, the Average Directional Index indicated that the strength behind the current rally is gaining momentum suggesting that CRO may continue to rise in the short term. With Bitcoin currently in a price discovery phase, CRO’s rally could gain additional momentum as positive sentiment spills into the broader altcoin market. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="928" height="544" src="https://crypto.news/app/uploads/2024/11/CROUSDT_2024-11-08_14-26-37.png" alt="CRO bearish trend ends amid Google Cloud partnership and roadmap reveal - 23" class="wp-image-14309013">
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 CRO Bollinger Bands and RSI chart: Source: <a href="https://crypto.news/price/cronos/" target="_blank">crypto.news</a>
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However, on the 1-day CRO/USDT chart, CRO was positioned far above the upper Bollinger Band at $0.919. The indicator in conjunction with the Relative Strength Index at overbought levels of 79 suggests that the altcoin may face a reversal in the short term, before the next leg up. 
In case of a reversal in price, $0.0772 which also marks the middle Bollinger Band will serve as the immediate support level. 
 Read more: <a rel="" href="https://crypto.news/mantra-chain-adds-google-cloud-as-primary-validator/"> MANTRA Chain adds Google Cloud as primary validator </a>

CRO bearish trend ends amid Google Cloud partnership and roadmap reveal

crypto.news

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