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