The price of Cronos (CRO) has recently experienced a remarkable surge, with a 23% growth seen in recent days. The native coin of Crypto.com, a prominent cryptocurrency exchange platform, has long been disregarded by investors, and a new collaboration with tech giant Samsung may be contributing to the CRO price increase. Weighted Sentiment has dropped into the negative zone, which could mean a rise in the coin's price, due to the entrance of new buyers. On the other hand, Cronos' Network Value to Transaction (NVT) ratio displays a relatively low level. This could indicate that adoption rates of the crypto are higher than its transactional activity, implying that CRO is still undervalued. As of April 28, In/Out of Money Around Price (IOMAP) data reveals potential resistance levels at $0.078, $0.083, $0.085, and $0.086, while support comes in at $0.077. A decline beneath the latter figure could result in a further drop in price towards $0.070. Therefore, investors should pay close attention to the evolving demand in order to make well-informed decisions.
Nicole Gomez
- 2023-04-28
Get the Answers to Your Questions about the Recent CRO Price Surge
The CRO price has had a remarkable rise lately--23% growth! Is its Network Value to Transaction ratio low, suggesting possible undervaluation? What are potential resistance and support levels? Dive into this article to get the answers.
