• Cronos price falls 10.88% in 24 hours, while trading volume slips 24.14% to $1.7 billion, showing weaker activity.
• Despite the drop, CRO surged 105.6% over the past week, reflecting strong bullish momentum in the market.
• RSI at 77.20 signals that CRO is in overbought territory, raising the risk of a correction if momentum slows further.

Cronos (CRO) is currently trading at $0.29. In the past 24 hours, the coin has been showing a drop of 10.88%, indicating a significant pullback. There is also a slowdown in trading; the total volume decreased by 24.14% and currently stands at $1.7 billion. Such a drop shows a short-term reduction in the involvement of investors despite recent increases.

Source: CoinMarketCap

In the past week, the token price has gone up by 105.6%, which indicates a strong bullish movement in the overall market. This kind of growth underscores new investor interest and market activity in the coin.

CRO Tests Key Support as Correction Begins

Crypto analyst Cryptopulse mentioned that CRO has fallen below its trendline, which might indicate the start of a correction. The initial support is located close to $0.28, and a double bottom may form. A second area of support is between $0.25 and $0.27, which was a base in the previous breakout. The regions can be appealing to buyers when demand comes back.

Any attempt to bounce back will also attract short-term price action to test support areas. Analysts suggest that the momentum may be regained, and cryptocurrency could potentially reach $0.50 on the weekly chart. Nevertheless, failure to provide assistance may lead to subsequent losses.

Source: X

Also Read: TRON Slips Again, Will Bulls Ignite a Rally Toward $0.433?

RSI and MACD Highlight CRO’s Overheated Market Conditions

The Relative Strength Index (RSI 14) stands at 77.20, which is an overbought position for CRO. Above 70 usually indicates selling pressure as markets are cooling. Traders will be closely monitoring whether the RSI drops toward neutral levels or remains elevated.

The Moving Average Convergence Divergence (MACD 12,26) underscores the recent rally strength. The MACD is 0.0165, the signal line is 0.0161, and the histogram is 0.0326. This structure indicates an upward trend, yet sharp readings are normally followed by a consolidation or a turn.

Source: TradingView

CRO Market Shows Drop in Volume and Open Interest

As per the CoinGlass data, the open interest decreased by 11.99% to $158.42 million, and the volume of trade decreased by 7.89% to $3.29 billion. The OI-weighted rate of funding is quite stable at 0.0001%, indicating a neutral sentiment in the derivatives market. The traders seem conservative with decreasing exposure.

Source: CoinGlass

CRO has reached a decisive stage following its rapid progress. Stretched conditions are indicated, and volumes verify cooling activity. RSI and MACD will be the preferred indicators of stabilization or even further downside by market players. The following sessions will decide whether the token will consolidate its profits or move into further correction.

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