Cronos (CRO) Price Surges 20% on Roadmap Reveal — Uptrend May Not Be Over
What's Behind the CRO Price Increase? | Credit: Getty Images
Key Takeaways
- Cronos unveiled a new, updated roadmap on Nov. 6.
- Cronos (CRO) broke out from a resistance trend line.
- What’s the next target for CRO’s upward movement?
The CRO price has fallen over 50% since its yearly high in March. The performance year-to-date is also negative, showing a 16% price decline.
On Nov. 4, it seemed that the CRO price was approaching a new yearly low. However, an upward movement started after Cronos revealed its new roadmap on Nov. 6, triggering a breakout.
Let’s analyze the price action and see where the price might be headed next.
Cronos Roadmap
On Nov. 6, Cronos revealed the new roadmap for an AI-enabled ecosystem. The roadmap includes protocol improvements and easy-to-use A.I. tools to help users with payment and savings needs.
One of the other benefits will be the increased focus on Decentralized App (dApp) creation, which will lead to higher cloud and compute costs, more blocks produced, and, in turn, more tokens burned.
Cronos unveiled a new quarterly burn formula based on price & block size, replacing the existing periodic community pool burn. It will also add more use cases for CRO, which will be used to fund the seeding of AI agents and for Cloud Compute payments in dApp deployment.
As part of the new roadmap, the Crypto.com exchange will also offer Stock & ETF trading alongside options and other derivatives.
Cronos will also hold an AMA with the founder and CEO of Crypto.com, Kris Marszalek, on Nov. 8.
However, not everyone is happy with the new update. Some Cronos cardholders have noted that the lock-up requirements have increased for receiving the same rewards.
Cronos Price Breaks Out
The daily time frame CRO price chart shows a breakout from a descending resistance trend line that has existed since August. The breakout happened after a nearly 20% price increase on Nov. 6.
After the breakout, CRO reached the horizontal resistance at $0.097 but was rejected, creating a long upper wick.
Nevertheless, the CRO price still trades above its pre-breakout levels.
Technical indicators, especially the Relative Strength Index (RSI) show bullish signs. The RSI generated a bullish divergence (green) before the upward movement and has increased above 50.
The Moving Average Convergence/Divergence (MACD) is also positive, making a bullish cross and increasing above 0.
What’s Next for Cronos?
In line with the bullish price action and indicator readings, the wave count also suggests the CRO price will break out. The most likely wave count suggests that the price of CRO is in wave C of an A-B-C corrective structure.
Giving wave C the same length as wave C leads to a high of $0.106. This would cause a breakout above the aforementioned $0.098 resistance area and take CRO to the 0.382 Fibonacci retracement resistance level.
If wave C extends, CRO will reach a high of $0.129, giving wave C 1.61 times the length of wave A.
This would take the Cronos price close to the $0.130 horizontal resistance area and the 0.618 Fibonacci retracement resistance level.
Cronos Breakout Incoming
The daily chart for CRO gives a bullish outlook, validating the breakout from the descending resistance trend line.
The price action, indicator readings, and wave count all indicate the upward movement will continue, giving an initial target of $0.106.
Cronos Price Prediction 2025: CRO Likely to Stay Stuck in Limbo
