bullish

2024

Cronos

A new cryptocurrency is grabbing headlines this week with over 100% spike in the last 6 days. The digital asset of Crypto.com, Cronos (<a href="https://yellow.com/asset/cro">CRO</a>) has <a href="https://www.cryptotimes.io/2024/11/12/cronos-cro-price-skyrockets-47-in-24-hours-ath-soon/">achieved</a> this feat by rising 47.1% in 24 hours from a low point of $0.1189 to a high of $0.2017. 
The market capitalization of Cronos reached $5.18 billion during this time while its trading volume hit $1.22 billion. This CRO price rally can be attributed to Crypto.com announcing an ambitious roadmap for the Cronos blockchain, stirring a bullish sentiment for the token. 
The platform will be launching a Cronos AI tool set and a Level Up program in Q4 2024 in order to introduce new features to the CRO ecosystem and enhance user engagement. 
However, the most potent question in the crypto market is whether this will push CRO towards a new all-time high. The Cronos token’s ATH of $0.9698 was last seen 2 years ago in November of 2021. 
The recent spike has placed Cronos in a bullish trend but it still runs 80% below the ATH. Analysts have predicted that the price rise could cause the token to rally to the ATH. 
The token has recently <a href="https://ambcrypto.com/cronos-soars-25-in-24-hours-is-a-move-to-0-204-on-the-horizon/">broken out </a>from a descending channel which suggests that the digital asset is reversing downward trends with a bullish run. The Cronos price displays this breakout which indicates that the downward pressure has subsided, making way for a bullish trend. 
Analysts are of the opinion with this breakout, CRO has set sight on the $0.204 resistance level which if toppled could lead to a 48% price rise. But to cross this resistance level CRO needs to increase its momentum and sustain buying pressure. Hence, Cronos' ability to rally will depend on it crossing the resistance level. 
However, reaching this target will require sustained buying pressure and increased momentum. Therefore, CRO’s ability to break and hold above nearby resistance levels will play a crucial role in determining whether this rally continues or stalls. 
At the time of writing, on November 12 night, Cronos was trading up 10.40% in the last 24 hours as it traded at $0.1813 with its trading volume increasing by 191% to reach $1.18 billion and market cap standing at $4.82 billion.

Cronos See 47% Price Jump After Crypto.com Announces Launch of AI Tools

Yellow News

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