Cronos price is the altcoin to watch this week for a breakout trade that could bear a 90% gain by summer

Filip L.
Filip L.

17 Mar 2023 1:30 PM

Cronos (CRO) price is holding all the cards here this Friday as it goes against several of its brothers and sisters in the altcoin space. Price action...

  • Cronos (CRO) price is up over 6% for the week and is receiving tailwinds from the rally in Bitcoin price this Friday.
  • If CRO breaks the 55-day Simple Moving Average (SMA) to the upside, it could see a 90% gain by the summer of this year.
  • CRO would next face the 200-day SMA at $0.0851, which might prove tricky, but a rally in Bitcoin price could help it break above it and reach a profit target of $0.16.
  • However, a repetition of the events of February could happen again, where a false break triggered a decline of all gains from that same week.

The article has a bullish sentiment towards Cronos (CRO) price, with the author highlighting the supportive tailwinds from the rally in Bitcoin price and the potential for a 90% gain by the summer of this year if CRO breaks the 55-day SMA to the upside.

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Related Questions

What is the current price action of Cronos (CRO)?
What tailwinds is CRO receiving from Bitcoin price?
What stands in the way for CRO bulls to make a killing this year?
What could happen if CRO faces a wave of bears pushing price action back below the moving average?
What is the profit target for CRO if it breaks above the 200-day SMA?

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