- Cronos holds higher lows, signaling strength amid volatility and potential breakout.
- Technical patterns suggest a bullish surge, with targets set for major upside.
- Fibonacci levels confirm trend support, keeping CRO’s breakout scenario valid.
Cronos’s (CRO) price action indicates a shift from a bearish to the way of a bullish trend, making higher lows and maintaining momentum. The coin is resisting but consolidating, but technical analysis foresees a possible breakout with a huge upside target.
Market Trends and Price Activity.
Cronos (CRO) is forming higher lows, showing resilience amid choppy market conditions. Price action, tracked on Coinbase with 30-minute candlesticks, shows a decline from February 22 to February 26 before rebounding from a $0.0700 low point. There was a rapid rally early in March, pushing CRO above $0.0950 before encountering resistance.
Source: TradingView
Tracking price movements, between March 7 and March 13, the price varied between $0.0750 and $0.0900, narrowly fluctuating. Trendlines show a divergence from the downtrend towards the uptrend with support accumulating near $0.0800. Recent data places CRO at $0.0803, reflecting a 0.25% decrease, while the trading volume remains at 11.49K tokens, indicating sustained market interest.
Breakout Potential and Market Analysis
A recent assessment from market analyst Javon Marks outlines a bullish scenario for CRO. Monitoring price trends, he identifies a pattern of higher lows, reinforcing an upward trajectory. Based on this structure, CRO could surge by 144% toward a $0.8868 breakout target, aligning with a broader 900% long-term projection.
Observing market movement, Javon’s analysis incorporates Elliott Wave Theory, Fibonacci retracement levels, and moving averages. A five-wave impulse structure developed, with Wave 3 extending past the 1.618 Fibonacci level.
Source: Javon Marks
The correction followed an ABC pattern, respecting the 0.618 Fibonacci retracement level. If CRO holds above critical support levels, bullish momentum could persist. However, breaking below recent lows may signal a shift back to bearish conditions.
A detailed breakdown from Javon’s analysis emphasizes trendline validation and Fibonacci levels in forecasting price movements. If CRO sustains its trajectory, the breakout potential remains intact, supporting a continuation of its current pattern.
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