2024

Future

Cronos

Daily

<ul class="list-ic vertical">
 <li>1 <a>Breaking the support zone could jeopardize the bullish trend, leading to the dynamic support of the 200-day moving average.&nbsp;</a></li>
 <li>2 <a>The percentage of total supply in profit was at 17.845%, showing a decline since March 2024 and indicating potential future decreases.</a></li>
</ul>
The altcoin Cronos was in a fierce struggle between bulls and bears on the daily chart.&nbsp;
The battle between bulls and bears has led to a symmetric triangle pattern in the 1D time frame, as it has been consistently recording lower lows and highs. However, the Cronos token has failed to break out of the resistance zone, indicating a bearish solid influence in the crypto space.
<h2 class="wp-block-heading" id="strong-about-cronos-blockchain-its-token-and-its-origin-strong">About Cronos Blockchain, Its Token, And Its Origin</h2>
Cronos serves as the foundational blockchain for the Crypto.com system, recognized for its strategic progress in 2023, focusing on user experience and technological growth.&nbsp;
The blockchain is dedicated to improving its functionalities in decentralized finance, non-fungible tokens, and gaming apps. Primary efforts involve increasing the capacity of protocols and databases to process a higher number of transactions.&nbsp;
It creates the Cronos Gravity Bridge for smooth ERC-20 transfers between Ethereum and Cronos.
Cronos (CRO) is the official cryptocurrency on the Crypto.com platform. CRO token is based on an ERC20 platform, which plays a crucial role in the functionality and usefulness of the Crypto.com platform.&nbsp;
The CRO token facilitates convenient and adaptable transactions within the system ( like purchasing products and services, paying transaction costs, buying different cryptocurrencies, and receiving discounts).
In 2016, Crypto.com was established in China Hong Kong under “Monaco” by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo.&nbsp;
After that, in 2018, Monaco was changed to a new name, Crypto.com. This rebranding brought the company’s identity closer to its primary activities in the crypto realm.
<h2 class="wp-block-heading" id="strong-cronos-price-highlights-so-far-and-future-forecast-strong">Cronos Price Highlights So Far, And Future Forecast</h2>
After reaching a low of $0.05, the Cronos <a href="https://www.thecoinrepublic.com/2024/05/02/chiliz-making-buzz-with-its-dragon8-hard-fork-will-it-impact-its-price/" target="_blank" rel="noopener noreferrer nofollow">price </a>increased by over 150% and reached $0.12. At this level, the CRO price consolidated, dropping to $0.08 before bouncing back and continuing its upward trajectory.&nbsp;
Cronos reached $0.18 a few days later, surpassing its previous peak. Following the second upward wave, Cronos marked a new low just below $0.12, which is challenging at this time.&nbsp;
Although the underlying trend remains bullish, Bitcoin’s decline has slowed the CRO price and compromised its support. Breaking the support zone of $0.119 to $0.113 for CRO could jeopardize the bullish trend, leading to the dynamic support of the 200-day moving average.&nbsp; 
<a href="https://in.tradingview.com/chart/CROUSDT/oyUk12gF-Cronos-asset-is-in-a-bearish-state/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/u/Sam_TCR/" rel="noopener noreferrer nofollow">Sam_TCR</a><a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a> 
Cronos has already pushed its 50-day moving average downward. That acted as a dynamic resistance, casting doubt on continuing the bullish trend, thus contingent on sellers.
Its bearish possibilities for the altcoin could accelerate in the coming sessions. Interest in CRO cryptocurrency has also declined as the momentum of this same trend continues to decrease.&nbsp;
Referring to the chart, At press time, it is trading at $0.1230 with an intraday loss of -3.67%. Furthermore, the technical indicator, MACD, is below the zero line, showing a constant flatline at -0.00280.
It indicates weak buying and selling pressure in the market as the histogram stays narrow at 0.00026.
Likewise, the RSI is 41.65, taking rejection from the 14-SMA line at 45.19. The bearish potential remains intact since the Cronos asset is bearish and has not yet reached the oversold level of 30.&nbsp;
Therefore, if the bears overpowered the bulls, the CRO price would fall and test its lower support zone, between $0.119 and $0.113 this month.&nbsp;
Conversely, if the market pushes the price above the resistance zone between $0.137 and $0.141, the CRO price will test its upper resistance level of $0.163 in the upcoming weeks.
<h3 class="wp-block-heading" id="strong-on-chain-the-transaction-volume-ratio-of-cronos-crypto-in-daily-profit-to-loss-strong">On Chain- The Transaction Volume Ratio Of Cronos Crypto In Daily Profit To Loss</h3>
Daily on-chain transaction volume, profit of CRO, loss, and ratio are metrics. This measure of the amount and proportion of Cronos assets moved on the blockchain, either in profit or loss, is contingent on their acquisition cost.&nbsp;
The daily on-chain transaction volume in profit to loss ratio for Cronos is 0.64&lt;1.
Daily On-chain transaction volume in profit(CRO) is – 25.4 million
Daily On-chain transaction volume in loss(CRO) is – 39.7 million <iframe loading="lazy" title="Santiment Chart: The Ratio of Daily On-Chain Transaction Volume in Profit to Loss (CRO), Daily On-Chain Transaction Volume in Loss (CRO), Daily On-Chain Transaction Volume in Profit (CRO)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=crypto-com-coin&amp;pt=CRO&amp;df=2023-11-03T00%3A00%3A00.000Z&amp;sat=shchcfg_84lF2tGEaAdc&amp;emcg=1&amp;emhwm=1&amp;wm=transaction_volume_profit_loss_ratio%3Btransaction_volume_in_loss%3Btransaction_volume_in_profit&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%3B%3B" scrolling="no"></iframe>
The loss volume is high, and the ratio is below 1 due to the recent dip in the Cronos price. This means that most holders might be in an unfavorable position due to the recent dip in <a href="https://www.thecoinrepublic.com/2024/05/02/chiliz-making-buzz-with-its-dragon8-hard-fork-will-it-impact-its-price/" target="_blank" rel="noopener noreferrer nofollow">price</a>.&nbsp;
Cronos crypto’s sentiment and behavior may make them more likely to hold the asset or buy more.
In the same way, it also exhibits the trend and momentum of CRO, that the volume in loss is advancing, and the ratio is falling. It illustrates that CRO crypto is facing a correction scenario and gradually losing momentum as more holders become unprofitable.
<h3 class="wp-block-heading" id="strong-total-supply-in-profits-and-percent-of-supply-in-profit-of-cronos-evaluation-strong">Total Supply In Profits And Percent Of Supply In Profit Of Cronos Evaluation</h3>
The percentage of total supply in profit measures market hype in CRO crypto, which was at 17.845. It measures the percent of total supply in profit earned in CRO crypto as the ratio between the total supply in profit and the total circulation of the Cronos asset. <iframe loading="lazy" title="Santiment Chart: Total Supply in Profit (CRO), Percent of Total Supply in Profit (CRO)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=crypto-com-coin&amp;pt=CRO&amp;df=2023-11-03T00%3A00%3A00.000Z&amp;sat=shchcfg_84lF2tGEaAdc&amp;emcg=1&amp;emhwm=1&amp;wm=total_supply_in_profit%3Bpercent_of_total_supply_in_profit&amp;wax=0%3B1&amp;wc=%23D4E763%3B%23FF5B5B&amp;ws=%7B%22node%22%3A%22bar%22%7D%3B" scrolling="no"></iframe>
Moreover, the total profit supply is 17.84 billion. This chart further shows that these metrics have declined from 1st week of March 2024 and still point toward future decline.
<h3 class="wp-block-heading" id="strong-summary-strong">Summary</h3>
Cronos altcoin was caught in a battle between bulls and bears, resulting in a symmetric triangle pattern on the daily chart. Despite a 150% surge from $0.05 to $0.12, Cronos has struggled to break resistance at $0.137 to $0.141.&nbsp;
The bearish sentiment is solidifying due to consistent lower highs and lows. The recent drop to $0.12 challenges the bullish trend, with the potential for further decline if support at $0.119 to $0.113 is broken.
Technical indicators like MACD and RSI suggest weak buying pressure, indicating a bearish state. Future price movement will depend on breaking either support or resistance levels.
The daily on-chain transaction volume ratio of Cronos crypto indicates the movement of assets in profit and loss, with a ratio of 0.64&lt;1. These metrics show that most holders are in a negative position due to a recent dip in the Cronos price.&nbsp;
The decreasing ratio and increasing volume in loss suggest a correction scenario, with CRO losing momentum. The percentage of total supply in profit was at 17.845%, showing a decline since March 2024 and indicating potential future decreases.
<h4 class="wp-block-heading">Technical Levels</h4>
Support Levels: $0.119 and $0.113
Resistance Levels: $0.137 to $0.141
<h4 class="wp-block-heading">Disclaimer</h4>
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Will Cronos Crypto Bleed Massively Or Continue To Gain?

Table of Contents

Thecoinrepublic.com

Muita 2. toukok. 2024 julkaistuja artikkeleja

Revival of Memecoins: Significant Surge in New Token Launches on Platform, Featuring Coin Name an...

Microsoft Announces Major Investment in Malaysia

Bitbot's Presale Passes $3M After AI Development Update

Uniswap (UNI) Integrates Robinhood Connect for Streamlined Crypto Transactions

Uniswap Adopts Robinhood Connect for Crypto Transactions

Unveiling Top ERC-20 Tokens Opportunities in the Altcoin Market: Spotlight on Key Cryptocurrencies

Join our free newsletter for daily crypto updates!