Cronos Coin (CRO) has recently been among the best-performing cryptocurrencies after experiencing several months of relative stability.
It has increased by more than 27% in just the last 24 hours and reached a 24-hour peak of $0.1134 before pulling back slightly to $0.1098 at the time of writing.
This comes after a rise of 47.65% over the last week, 43.99% in the last 30 days, and a 35.75% gain over the past year.
CRO/USD Weekly Price Charts | TradingView
Why is Cronos (CRO) going up today?
The remarkable performance of the Crypto.com Coin has followed a series of favorable announcements within the Cronos ecosystem, enhancing investor confidence and significantly increasing market volume in recent days. For some context, the 24-hour trading volume of the CRO token has skyrocketed by 400.57% to surpass $161.98 million, indicating a rising interest in this crypto.
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On November 7, Cronos Labs, the blockchain startup accelerator backing the Cronos blockchain ecosystem, revealed an extension of its strategic alliance with Google Cloud.
As part of this expanded partnership with Cronos Labs, Google Cloud will assume the role of the primary validator on the blockchain to foster greater technical innovation and improve developer adoption within the network.
Moreover, on November 6, the Cronos Chain unveiled a new roadmap that presents a vision for an artificial intelligence (AI) agent-powered ecosystem on Cronos.
They claim that the infrastructure for blockchain-based AI agents will unlock limitless opportunities. Cronos aims to be the main chain enabling all AI agents to transact value via the Internet.
The roadmap also highlights ambitious goals that Crypto.com plans to accomplish by the end of 2025. Some of the key objectives include launching stock and ETF trading, introducing a Crypto.com Stablecoin, applying for a Cronos Exchange Traded Fund (ETF), and planning a CRO token burn, similar to Binance’s periodic BNB burn.
Cronos Coin Price Analysis
On the weekly chart, Cronos exhibits positive indicators. The 50-day moving average is increasing beneath the current price, implying potential support for further price growth. Conversely, the 200-day moving average reflects a downward trend, which could act as resistance.
The daily timeframe of the Cronos Coin (CRO) reveals strong buy signals from oscillators and moving averages, highlighting robust bullish momentum.
The RSI stands at 82.7920, placing it in the overbought range. This suggests that the coin may be poised for a correction or a consolidation phase. However, the RSI has remained above 70 for several days, indicating significant upward momentum.
The 10-day EMA is currently positioned at 0.0842, with the price trading above it. This bullish indicator shows that the price is exceeding its recent average.
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