Connect with us
Active Currencies 17800
Market Cap $3,939,729,823,218.00
Bitcoin Share 59.30%
24h Market Cap Change $-1.91

Cronos price prediction: Why a 16% dip is possible in the short-term

2min Read

Since March, Cronos crypto has been in a downtrend, and began to form a range in July and August.

Cronos price prediction- Bullish signals prevalent after high volume breakout
Share this article

  • CRO has broken out of a four-month range on high trading volume.
  • The liquidation heatmap offered clues for buyers looking to enter long positions.

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. To the north, $0.27 and $0.33 were viable bullish targets.

The liquidation heatmap showed that the short-term Cronos price prediction is a 15%-18% dip from the current market price. Should buyers re-enter in the coming days, or will the retracement end without a deeper drop?

CRO down 28% from local highs

Cronos 1-day Chart

Source: CRO/USDT on

A set of Fibonacci retracement levels was plotted based on the 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

CRO Liquidation Heatmap

Source: Coinglass

AMBCrypto 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.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Share
Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto. He specializes in dissecting price action, identifying key market trends through advanced chart patterns, and forecasting both short-term and long-term asset trajectories. His distinct analytical method is grounded in his academic training as a Chemical Engineer. This background provides him with a systematic, process-oriented approach to market data, enabling him to analyze the complex dynamics of financial markets with precision and objectivity. Having actively covered the cryptocurrency space since the landmark 2017 market cycle, Akashnath possesses years of experience navigating both bull and bear markets. This seasoned perspective is critical to his insightful reporting on market volatility and evolution. As an active market participant, Akashnath enhances his analysis with crucial, hands-on experience. This practical application of his technical skills ensures his insights are not merely theoretical, but are also relevant and actionable for an audience looking to understand and navigate trading opportunities. He is dedicated to educating readers on the nuances of technical analysis, empowering them with the knowledge to make more informed financial decisions.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.
Thank you for subscribing to Unhashed.