CRYPTO NEWS

CRO is up by 5% ahead of the Cronos Chain mainnet upgrade

The cryptocurrency market has been underperforming since the start of the week.

The crypto market is having a poor start to the week. The total market cap remains above $1 trillion despite the broader market losing more than 4% of its value in the last 24 hours.

Bitcoin is down from last week’s $24k high and is trading above the $22k support level. Ether maintains its price above $1,500 despite losing 6% of its value over the last 24 hours.

However, CRO, the native token of the Crypto.com exchange, is the best performer amongst the top 30 cryptocurrencies by market cap. CRO is up by more than 5% in the last 24 hours, outperforming the other major cryptocurrencies in the process. 

The primary catalyst behind CRO’s positive performance is the upcoming Cronos Chain mainnet upgrade. Crypto.com announced that it would support the Cronos mainnet upgrade, slated to take place at the height of block 3,982,500, scheduled for 3 August 2022, 02:00 UTC.

Key levels to watch

The CRO/USD 4-hour chart is bullish as the cryptocurrency has been performing well over the past few days. 

The MACD line is above the neutral zone, indicating strong bullish momentum. The 14-day relative strength index of 64 shows that CRO could enter the overbought region if the rally continues.

At press time, CRO is trading at $0.1439 per coin. If the bulls remain in charge, CRO could surge past the $0.155 resistance level before the end of the day. However, it would need the support of the broader market to breach the $0.160 resistance level in the short term.

The market is still bearish, and CRO could lose some of its gains and drop below the $0.137 support level. However, CRO should maintain its position above the second major support level at $0.1332 in the near term.

The post CRO is up by 5% ahead of the Cronos Chain mainnet upgrade appeared first on CoinJournal.

Ethereum Price Analysis: ETH Price May Hit $2500 in the Next 7 Days!

The post Ethereum Price Analysis: ETH Price May Hit $2500 in the Next 7 Days! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide Ethereum (ETH) Price Analysis The Ethereum price is swinging within an ascending triangle ever since it flipped from the lows a month ago As the final testnet Goerli::Listen

Ethereum

The post Ethereum Price Analysis: ETH Price May Hit $2500 in the Next 7 Days! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Ethereum (ETH) Price Analysis

  • The Ethereum price is swinging within an ascending triangle ever since it flipped from the lows a month ago
  • As the final testnet Goerli Testnet went live the ETH price sliced through the crucial resistance and consolidated just above these levels
  • Currently, the price has formed a minute bullish flag which may uplift the price above $2100 in a short while from now
  • Once the ETH price slices through these levels then it may range high to test the next target at $2400 which may pave the way to secure levels above $2500

Ethereum (ETH) Technical Analysis

Technical Indicators

Technical Indicators Value (STF/HTF) Action (STF/HTF)
Relative Strength Index(RSI) 65.03 / 46.34 Buy / Neutral
MACD 54.43 / -391.45 Buy / Sell
Average Directional Index(ADX) 23.65 / 31.16 Neutral / Neutral
Average True Range(ATR) 51.34 / 375.22 Less Volatility / Less Volatility
Bull-Bear Power 73.36 / 112.88 Buy / Buy

Pivot Levels

Pivot Levels Short Term Long Term
Resistance $2100 $2978
Support  $1744 $1013
Moving Average(MA)-50 $1732.78 $2892.34
Moving Average(MA)-200 $1460.84 1239.55

The Ethereum (ETH) price is extremely bullish in all the time zone as all the indicators are flashing a huge buy signal. Therefore, the asset appears to be poised to achieve the higer targets very soon.

CRO is up by 5% ahead of the Cronos Chain mainnet upgrade

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