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This year was a time of a downturn for the entire crypto market. As a result, some crypto traders are confused about whether it is time to sell or hold out for a good price. For CRO, this may not be the case as it continues to maintain its uptrend position in the past week.
Cronos (CRO) launched its Mainnet on March 25, 2021. CRO made the largest token burn in history, wherein 70 billion CRO was removed from the total supply. Moreover, 59.6 billion CRO was already burned on February 22, 2021. In fact, CRO price reached an all-time high price of $0.9698 on November 24th, 2021.
Nevertheless, the crypto market has been moving sideways lately, and most cryptocurrencies are losing their previous gains. Is the scenario the same as the CRO price since it gave a return on investment of over 500% in 2021? We’ll find out shortly in this CRO price analysis 2022 article. But first, let’s have a look at what CRO is.
What Is Cronos (CRO)?
Cronos (CRO) is the native digital currency token of Cronos Chain. Moreover, Cronos Chain is an open-source blockchain developed by the Crypto.com trading, payment, and financial services firm. It also enables users to buy cryptocurrency with its credit card.
Cronos Chain is one of the products in Cronos lineup of solutions developed to accelerate the global adoption of cryptocurrencies. The CRO blockchain serves primarily as a vehicle that provides the Cronos Pay mobile payments app.
In the future, Cronos plans to grow the reach of the CRO platform to power its other products as it recently hired Lebron James to position itself for blockchain education.
Do you think this market performance of CRO could make it a 2022? Are you curious to find out? In this case, let’s head to the charts and find out in this CRO price prediction 2022 article.
Cronos (CRO) Market Overview
As of the time of writing this Cronos (CRO) price analysis, CRO trades at $0.11 with a 24-hour trading volume of $34,791,194. The price of CRO has increased by 1.06% in the last 24 hours.
| Market Cap | $2,837,072,987 |
| Fully Diluted Valuation | ? |
| Circulating Supply | 25,263,013,692 |
| Total Supply | 30,263,013,692 |
| 24 Hour Trading Vol | $34,791,194 |
Currently, CRO has a circulating supply of 25.2 billion CRO. The top cryptocurrency exchanges for CRO are OKX, CoinTiger, Huobi Global, FTX, and Upbit. Now, let’s proceed to the next part of this CRO price prediction for 2022.
CRO Price Analysis
Currently, CRO holds 26th place on CoinMarketCap. But will the recent changes and development in the blockchain help the digital currency price to reach higher? Let’s proceed to the charts in this CRO price prediction article.
The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of Cronos (CRO) 1day chart of CRO/USDT is at 58.93. This shows that CRO is showing a strong trend since it is between 50 and 70. This value could trigger a further bullish run if more buyers could be attracted to gain from the expected price increase.
Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of CRO.
Since the start of 2022, CRO price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, CRO has a competitive market for the rest of the year.
Is Cronos a good investment in 2022?
The chart below shows that Cronos has been moving sideways for quite a long time. However, there's a chance that this trend will be averted, resulting in a CRO bull run up to $0.32 after breaking the $0.15 resistance.
Conversely, if investors move against the crypto, the price of Cronos (CRO) might decrease to $0.078 at the support level, though the price could plummet further.
Meanwhile, our long-term CRO price prediction for 2022 is bullish. It has a low possibility of trading around its present all-time of $0.9698 this year. However, that will only happen if it breaks many previous psychological resistances.
If this bullish trend continues, Cronos might reach $0.196 by the end of 2022. With upcoming, partnerships, and developments reaching $0.5 is quite optimistic in the price point of view but undoubtedly feasible for the near future.
Cronos (CRO) Price Prediction 2023
If CRO has a relative strength index (RSI) that is above 60 in 2023, which means that a strong uptrend since more buyers are entering the market, is about to be formed, then the possibility of it reaching $1.3 by the end of 2023 has been narrowed.
Cronos (CRO) Price Prediction 2024
As per the latest upgrades, developments, CRO price prediction, and new project forecasts of the platform, CRO investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of CRO in the crypto market, and it will be on the list of the best investment as the price can spike and reach around $3.
Cronos (CRO) Price Prediction 2025
In the next three years, CRO’s price could race up to $8. However, reaching this level could not be so difficult for CRO as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that CRO has a high possibility of reaching new ATH soon in the next four years as per the prediction.
Conclusion
CRO has a bright future ahead of it in 2022-2023. With ongoing developments happening within the CRO ecosystem, as well as in the overall crypto market, we may see CRO reach new heights.
Meanwhile, our long-term CRO price prediction for 2022 is bullish. In addition, it has a high possibility of surpassing over $0.20. However, that will only happen if it breaks past many psychological resistances.
As said above, CRO may even reach $0.5 if investors have decided that CRO is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
