Cronos (CRO) Price Prediction 2023-24: Will the CRO Rally Resume?

Cronos [CRO] registered strong gains in the past two weeks. It rallied 230% within a week before the recent retracement. This was a sign of bullish conviction.

Cronos [CRO] price analysis: recent 230% gains might continue to greener pastures. Key levels to watch out for on the way up, as per the technicals, were at $0.27 and $0.33. However, a short-term Cronos price prediction showed a 15%-18% dip from the current market price. Could buyers re-enter in the coming days, or will the retracement end without a deeper drop?

CRO’s recent gains were capped at 28% from local highs

output: Cronos [CRO] price analysis: recent 230% gains might continue to greener pastures. Key levels to watch out for on the way up, as per the technicals, were at $0.27 and $0.33. However, a short-term Cronos price prediction showed a 15%-18% dip from the current market price. Could buyers re-enter in the coming days, or will the AMBCrypto’s recent analysis highlighted Cronos’ bullish Fib levels.

A set of Fibonacci retracement levels was plotted based on the recent November move from $0.0705 to $0.2329. The trading volume was at 2.7 million CRO on the 5th of November, and it soared to 50.27 million CRO on the 6th of November.

On the 11th of November, CRO’s 1-day trading volume was 308.16 million CRO on Coinbase alone. This massive increase in volume came alongside the swift gains the Cronos network token made.

Since March, Cronos crypto has been in a downtrend. It began to form a range in July and August. The recent rally was spurred from the lows of this range, marked in purple.

The retracement from $0.2329 was accompanied by high selling pressure, and the OBV has not been able to trend higher.

It is possible that Cronos will see a deeper retracement toward $0.132 and $0.105. Such a move would present a buying opportunity.

Cronos price prediction- 16% price dip ahead

AMBCrypto also found that the liquidation heatmap of the past month also provided valuable insights into support and resistance zones for CRO. The $0.142 and $0.2 had a cluster of liquidation levels that could attract the price.

Read Cronos’ [CRO] Price Prediction 2024-25

In particular, a move to $0.142 is likely to rebound higher. CRO has recently broken out of a four-month range with high volume- more gains are far likelier than a retracement into the former range.