• Cronos is showcasing the bullish momentum on the daily technical chart.
  • CRO price has surged by almost 18% suggesting buyers presence.

Cronos (CRO) has shown an impressive technical breakout that indicates that the altcoin might be in a new bullish run after a long period of consolidation. The digital asset has managed to break the 50-day exponential moving average (EMA) at $0.0892, which is a major technical milestone that is usually followed by the continuation of the upward trend.

The price movement shows a definite bullish pattern as CRO is currently aiming at the 200-day EMA resistance at $0.0984. This is about a 10% upside potential at the current price levels, provided that the token continues its trend above the 50-day EMA support. The break above the shorter-term moving average is successful and this means that buyers have taken control of the short-term price trend.

The institutional and retail interest is also high, as the CoinMarketCap data shows that CRO has increased by a staggering 18% over the past 24 hours. More importantly, the volume of trading has increased by almost 1,923%, indicating that there is a lot of accumulation and that investors are regaining their confidence. This surge in volumes confirms the price movement and shows that it is a real participation in the market and not an artificial price manipulation.

What’s Next For Cronos (CRO) Price?

Cronos Surges 18% Breaking 50-Day EMA in Massive Volume Spike image 0 Source: Tradingview

Technical indicators are becoming more bullish in a variety of time frames. The RSI has entered into bullish territory, indicating that momentum is gaining without being overbought. The Moving Average Convergence Divergence (MACD) has produced a bullish crossover indicator, and the histogram has become green, which indicates a positive change in momentum.

The social mood around Cronos has also been positive, with the community gaining confidence and possibly underlying fundamental changes that could be behind the rally. This technical and sentiment combination is usually followed by prolonged price growth in the cryptocurrency markets.

The important support areas are at the 50-day EMA of $0.0892 and at $0.0782, which can be used by traders to enter the market to ride the bullish trend. The main resistance level is at the price of $0.0984 (200-day EMA), and its breakage would lead to the possibility of more gains to higher resistance levels.

A combination of technical breakout, high volume, bullish signals, and a positive sentiment makes a strong argument that Cronos will continue to gain momentum in future sessions.

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