Cronos Price Prediction for Today, January 16: CRO/USD Stays Above $0.080 Resistance

The Cronos price prediction needs to cross above the $0.085 resistance level quickly to deny the bears the opportunity to enter the market.

Cronos Prediction Statistics Data:

• Cronos price now – $0.080
• Cronos market cap – $2 billion
• Cronos circulating supply – 25.26 billion
• Cronos total supply – 30.2 million
• Cronos Coinmarketcap ranking – #28

CRO/USD Market

Key Levels:

Resistance levels: $0.105, $0.110, $0.115

Support levels: $0.055, $0.050, $0.045

CRO/USD is currently hovering around $0.080 resistance as the coin prepares to gain more bullish signals. The movement to the upside may not allow the coin to bow to the selling activity going on in the market. However, Cronos (CRO) is trading above the 9-day and 21-day moving averages, aiming to cross the channel. Meanwhile, in the short term, bearish momentum is very likely especially if the bulls fail to push the price above $0.085 and the red line of the 9-day MA crosses below the green line of the 21-day MA.

Cronos Price Prediction: Would Cronos (CRO) Continue Higher?

The Cronos price may need to rise and break above the upper boundary of the channel before resuming the previous bullish trend but may remain beneath for a while before turning bullish. Therefore, if the sellers push lower, traders can expect very strong support at $0.070; this could then be followed up with another support at $0.060. If the bears push further below, additional supports may be located at $0.055, $0.050, and $0.045.

In the meantime, if the buyers continue with the bullish movement, the first level of resistance could be found at $0.090. Further bullish movement could hit the potential resistance levels at $0.105, $0.110, and $0.115 while the Relative Strength Index (14) crosses above the 70-level, which indicates a bullish movement within the market. On the contrary, if the technical indicator dips beneath this level, the Cronos price may head lower to the downside.

When compares with Bitcoin, the Cronos price keeps trading as the market faces the upside. CRO/BTC is currently trading at 385 SAT and the coin prepares to cross above the upper boundary of the channel. However, if the price drops and moves toward the lower boundary of the channel, the next key support may come at 300 SAT and below.

Meanwhile, a continuous bullish movement could keep the market above the 9-day and 21-day moving averages, a break above the channel may enable the Cronos price to reach the resistance level of 450 SAT and above while the Relative Strength Index (14) crosses above the 60-level, which shows that the market might experience further bullish movement.

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