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In the past 24 hours, the Cronos -Crypto price rose by more than 57% to act at $ 0.3519 from 6 hours EST at a pump of 129% in daily trading volume to $ 2.36 billion.
In the meantime, the relative strength index (RSI) is now very high at 90.66, which means that the market is heavily overbough. Normally this suggests that a pullback could happen quickly. Nevertheless, tokens in strong Uptrends can overbough for some time before they correct, especially if the market sentiment remains positive.
Looking at levels, the old resistance can now act as a strong support when CRO withdraws. At the top, the next psychological resistance is almost $ 0.40. Holding above $ 0.25 would be a good sign for bulls and could maintain the upward trend.
This increase in Cronos also fits with a wider trend in which money flows in Altcoins after large runs in Bitcoin and Ethereum. Short-term traders can be looking for buying opportunities if CRO is again support, while long-term holders see the movement as proof of growing power in the Cronos ecosystem.
In short, Cronos is broken from his long lateral phase and is now in a strong meeting. As long as it applies above the key support, it seems to be looking for more top, with $ 0.40 as the next large target.
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