- Cronos (CRO) declined by 11.5% within 24 hours and is now at around $0.3006 and has lost its trendline support.
- The first support is located at $0.2887-0.29, and the wider demand zone is observed between $0.25 and $0.27.
- The resistance is at $0.3838, and weekly charts indicate that it can go up to $0.50 in case the momentum is maintained.
Cronos (CRO) is experiencing a correction following a recent upward trend, and the token is declining below the near term trendline. The asset is trading at $0.3006, a 11.5% drop in 24 hours . According to market statistics, CRO is also weakening relative to leading cryptocurrencies and declines down 7.3% versus Bitcoin and 5.9 percent versus Ethereum.
The momentum shift has shed light on two possible areas of support that can see CRO stabilize or continue to fall. Immediate resistance is set at $0.3838 and the market now looks at how the token will respond at the lower levels.
Support Zone Emerges as Key Double-Bottom Candidate for Short-Term Relief
The first support level lies around $0.2887 to $0.29, a point that traders are monitoring closely. This area could form a double-bottom structure, which often attracts buying interest in short-term corrections. Price action around this mark has shown previous stability, suggesting that a reaction here remains possible if selling pressure continues.
Notably, this level also aligns with areas where buyers previously stepped in, highlighting its technical relevance. Should the token manage to consolidate at this level, it may provide short-term relief in the broader correction.
Broader Demand Zone Between $0.25 and $0.27
If the initial support does not hold, focus shifts to the $0.25 to $0.27 range. This zone represents the breakout base from recent upward momentum, making it a strong demand region. Previous price activity in this area suggests that buyers may be more aggressive should CRO revisit these levels.
Volume trends also provide insight, with prior surges in trading activity aligning with this base. The region could therefore serve as a secondary cushion, absorbing pressure if the market continues lower.
Weekly Outlook and Resistance Levels
On the higher timeframe, resistance remains significant at $0.3838, capping recent rallies. For CRO to regain momentum, it would first need to establish a firm base at one of the mentioned supports. Technical observations point toward the possibility of recovery if the token stabilizes.
Market participants are watching closely, as a stronger rebound could eventually bring attention back to higher resistance levels. Notably, weekly charts indicate that if buying strength returns, CRO may attempt a move toward the $0.50 mark, though this would depend on sustained momentum.
