Cronos (CRO) Price Insight - With Growing Utility, Can CRO Reach $0.1?

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Cronos’s (CRO) price secured support at $0.049 after a 50% drop from the $0.095 year high recorded on February 21. This multi-month support now provides the jumping-off point from CRO, sending it almost 7% north over the past two days.

Cronos Price Jumps Following Interchain Hackathon Premiere

The 7% rise in Cronos price comes amid hype around the Interchain Hackathon, offering a platform for creativity and innovation in problem-solving.

🛠️ 안녕하세요, the Interchain Hackathon has officially begun!

We are excited to witness the creative and innovative solutions that will emerge from this event 🧠

📍Nonce Building, Seoul
🗓️ 8 – 10 Sept pic.twitter.com/3w8uQ4nJEY

— Cronos (@cronos_chain) September 8, 2023

The Interchain Hackathon is advertised as an event that requires an application to attend. It is a hub for technological innovation, providing the choice meeting point for skilled developers, designers, and enthusiasts worldwide. The attendees come together because of their individual and joint interest in decentralized finance (DeFi), gaming, and modularity. These are the areas of focus for the event.

Students will get priority in the event, with a particular interest in the local Korean institutions of higher learning. The event starts on September 8 and will go on for two days at the Nonce Building in Seoul, South Korea. The event will also feature a technical workshop, allowing attendees to learn from expert developer Jong Whan.

We will also be hosting a technical workshop on #Cronos at Interchain Hackathon 📖

Don't miss out on the opportunity to learn from our developer, Jong Whan 💪

🗓️ September 9th, 3pm

See you there 👋

— Cronos (@cronos_chain) September 8, 2023

Notably, the Cronos ecosystem, with a progressive vision, is significant in the Cosmos (ATOM) network. Cronos uses Cosmos SDK, a platform enabling the modular structuring of new blockchains. The collaboration between the two ecosystems helps facilitate an Inter-Blockchain Communications protocol (IBC). This links Cronos Ethereum Virtual Machine (EVM) with the Cosmos chain. In this respect, Cronos native token, CRO, powers mainnet usage while simultaneously serving for transaction settlement and network fee payments.

Interchain Hackerhouse 2023 by @cosmos ! 💫🇰🇷

Amongst Cosmos builders, @Jayljl shared about the unique position that #Cronos sits within the Cosmos ecosystem and Cronos’ vision within Cosmos moving forward. #IBCGang pic.twitter.com/MU5yJAEvkw

— Cronos (@cronos_chain) September 7, 2023

Cronos features among the event sponsors, game developer Argus, modular consensus and data network Celestia, Keplr wallet, and Osmosis DEX.

The chart above indicates Crono’s price against Korean Won (KRW), with CRO skyrocketing on the Korean exchange, Upbit.

Cronos Price Forecast With $0.1 on the Horizon

Cronos’s price is $0.052 at press time, recording a 5% rise on the day. With momentum growing, CRO is currently confronting the 50-day Exponential Moving Average (EMA) at $0.054. If bulls maintain the accumulation pattern, the altcoin could go as high as breaching the 100-day EMA at $0.056 or higher to tag the $0.061 resistance level.

With eyes set on the $0.100 target, enhanced buying pressure could send Cronos price north, shattering the 200-day EMA hurdle at $0.065. This would clear the path for a foray into the supply zone, which, if bulls manage to overcome, would turn into a bullish breaker, setting the tone for CRO to foray into the psychological $0.080. In a highly bullish case, the altcoin could extrapolate the gains to the second psychological level at $0.100.

The Relative Strength Index (RSI) solidifies the bullish case, with a solid north move indicating rising momentum. In the same way, the histogram bars of the Moving Average Convergence Divergence (MACD) are green, showing the presence of bulls in the CRO market.

Conversely, with the MACD index still negative, Cronos’s price risks a correction as bears still abound. In the same way, the downward trajectory of the EMAs shows that the path with more resistance was north. With this, it is possible that CRO could correct, going as low as below the $0.049 support level.

So, while CRO investors deliberate whether to long or short Cronos price, consider BTCBSC, the native crypto for the Bitcoin BSC project.

CRO Alternative

Bitcoin BSC is a new project featuring among the top three crypto presales to invest in for September 2023. It is a new BEP-20 token in the market, offering investors ultra-high staking rewards.

BitcoinBSC is in the presale stage, recording almost $240,000 in presale sales. The project’s goal is to provide investors a chance to compensate for having missed the 2011 Bitcoin (BTC) boom. The BTCBSC token currently retails for $0.99, similar to how BTC traded under the $1.00 mark twelve years ago.

https://twitter.com/Bitcoinbsctoken/status/1700057880429216224

The project is built atop the BNB Smart Chain, enjoying the security, speed, and affordability of the Ethereum blockchain. It provides interoperability alongside other Binance Smart Chain (BSC) decentralized applications (dApps). At the same time, users enjoy the much-desired convenience of buying Ethereum Virtual Machine (EVM) wallets, including but not limited to MetaMask and Trust Wallet.

https://twitter.com/Bitcoinbsctoken/status/1700116857372512285

Moreover, the project showcases an eco-friendly stake-to-earn model, ideally presenting a sustainable alternative to the Bitcoins proof-of-work (PoW) mechanism. This is a means to earn passive income by staking your BTCBSC tokens in the smart contract and getting rewards for it.

https://twitter.com/Bitcoinbsctoken/status/1700056426066989204

Do not miss out on the BTCBSC rally for any reason.

Buy Bitcoin BSC here