• CRO records a daily drop but continues to show strong upward momentum with solid gains over the past week.
• The RSI at 66.70 signals solid demand, though it is approaching the critical overbought level of 70 on the chart.
• The trading volume fell 60.49% to $466.58 million, showing that momentum is slowing and traders are becoming more cautious.

Cronos (CRO) is currently trading at $0.2753 after dropping 7.06% over the past 24 hours. There has been a slowdown in activity, with trading volume down 56.59% and currently standing at $270.24 million. Despite this daily loss, the coin has still gained 75.1% over the past week, which shows strong upward momentum in the short term.

Source: CoinMarketCap

CRO will likely remain volatile in the days ahead as traders consider recent gains against a backdrop of lower volumes. If buyers keep buying, the price may continue to rally and test higher resistance levels. Conversely, a decrease in volume may indicate that the market is in the process of correcting itself before resuming its equilibrium.

CRO Approaches Resistance at $0.396 Amid Market Caution

Crypto analyst More Crypto Online highlighted that CRO is facing resistance at $0.396. The chart configuration indicates that there is still potential to move higher if demand picks up. Momentum is indicated through technical indicators, but buying needs to continue to break higher levels.

Traders are still cautious while watching the Fibonacci support zone. A powerful reaction at this point could validate additional gains. Failure to maintain support could spark a downward trend for CRO.

Source: X

Also Read: Ethereum Rally Tested: Analysts Warn of $4K Retest Despite Whale Accumulation

RSI at 66.70 and MACD Signal Ongoing Strength

The Relative Strength Index (RSI) is currently at 66.70. This puts the coin just below overbought conditions. The number indicates that demand is still strong, but not yet extreme. If RSI crosses above 70, traders can anticipate stronger selling pressure to follow.

The Moving Average Convergence Divergence (MACD) shows that momentum is positive. The MACD line is at 0.0397, which is above the signal line of 0.0270. The histogram is also green, which indicates bullish strength. A cross below the signal line would flag a reversal.

Source: TradingView

Volume and Open Interest Decline as Momentum Fades

According to CoinGlass data, CRO’s trading volume has decreased by 60.49% to $466.58 million. Open interest also dropped 8.60%, to $141.53 million. The OI-weighted funding rate is positive and is at 0.0100%.

Source: CoinGlass

These numbers suggest that traders continue to favor growth positions. However, the drop in both volume and open interest is a bearish sign. Momentum seems to be fading, and market participants appear to be reducing exposure.

The picture presents two clear paths for CRO. Ongoing demand may push the price back up to higher resistance zones. The token may be entering a corrective phase if the volume continues to decrease. Both results depend on the market sentiment and liquidity flow in the upcoming sessions.

Also Read: Dolomite Governance Forum Launches, Price Eyes $0.35