60% in 3 Days: Here’s Why the Cronos Price Is Rising
The price of Cronos has seen an impressive 60% performance in the last 3 days driven by a series of positive events from the Cronos chain ecosystem. This sudden rise has brought life back into the CRO community and market analysts are now calling it the next ‘BNB’. Will the price of CRO continue to rise?
Why did Cronos price go up 60% in 3 days?
The The most recent CRO price is $0.1116 after the asset increased by 30.2% in the last 24 hours. This is part of a larger 60% increase in the past 3 days fueled by the release of their 2025 roadmap.
🧠 Today we’re introducing an AI agent-driven ecosystem in Cronos.
🌌 The roadmap supports the view of Cronos as a chain where AI agents can interact and evolve automatically.
🛠 AI tools readily available and major protocol improvements will drive… pic.twitter.com/75abidGfyg
– Cronos (@cronos_chain) November 6, 2024
The roadmap highlights the milestones that crypto.com aims to achieve by the end of 2025. Some of the milestones include:
- Introduction to stock and ETF trading
- Introduction of Crypto.com Stablecoin.
- Application for Cronos Exchange Traded Fund (ETF).
- Targeted CRO token burning, such as Binance.
In addition, Cronos on Thursday announced that it is expanding its strategic partnership with Google Cloud, where others will join the Cronos chain as an agent.
🤝 Today, Cronos Labs announces the expansion of its strategic partnership with Google Cloud. @googlecloud.
☁️ With this partnership, Google Cloud has joined the Cronos ecosystem as a validator and will support independent developers in many different ways.
👉 Learn more:… pic.twitter.com/tECUh0bHCJ
– Cronos (@cronos_chain) November 7, 2024
The news boosted CRO’s price, forcing it out of a 238-day rally.
Is the Cost of CRO Going Up?
Information from Coingecko shows the CRO trading volume is up 532%, increasing from the previous day and showing a recent uptick in market activity. A loud sound indicates that the ascent is in progress.
Moreover, the CRO open interest (OI) recently increased by 43% in the last 24 hours. With the price over 30%, it indicates that traders are entering long-term positions in Cronos (CRO). This indicates that the price may not end.
Information from Coinglass continues to confirm this observation as it shows that there is a large amount of $ 1.17 million long-term Liquidation Leverage on OKX and Binance, which is almost twice the short.
This imbalance suggests that traders are bullish on the price of Cronos, expecting further increases in the future.
Looking at the relative strength index (RSI), which is at 60.40, still has some way to go before it reaches overbought territory. There is also a bullish moving average convergence divergence (MACD) crossover, which shows The Cronos purchase party has just begun.
The Average Directional Index (ADX) indicator showing the asset’s volatility is at 21, which is still slightly lower. However, the indicator is rising, suggesting that the price hike may start soon.
Cronos Price Analysis: Is $1 Following the 60% Surge?
CRO’s weekly price chart shows a strong bullish candle, indicating the possibility of a continuation. However, the current price level is also in line with the resistance pattern that has kept the price down since the small March bull run.
A bullish breakout from this price resistance will result in a 63% breakout to $0.185, where the next key resistance is located. Outside of this Cronos price is likely to focus on previous highs around $0.98 and more when the market enters. 2025 bull market.
Frequently Asked Questions (FAQs)
The recent 60% rise in Cronos’ price has been driven by the release of its 2025 roadmap, which includes new developments such as stock and ETF trading, a planned CRO token burn, and a partnership with Google Cloud.
The 2025 roadmap describes important events such as launching the Crypto.com stablecoin, introducing stock and ETF trading, applying for the Cronos Exchange Traded Fund (ETF), and organizing the CRO token burn.
Market data shows strong trading volume and increased long positions, suggesting the rally could continue. However, resistance at $0.12 and overbought indicators like RSI may limit further growth.
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Evans Karanja
Evans Karanja is a crypto analyst and journalist with a focus on blockchain technology, cryptocurrency, and the video game industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analytics that are relevant to their target audience. As an avid crypto trader and investor, Evans is passionate about the transformative power of blockchain in various sectors. Outside of his professional activities, he enjoys playing video games and looking at beautiful waterfalls.
Disclaimer: The content presented may include the opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your financial loss.
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