Cronos price has dropped 22% as the Smarturn upgrade event happens today.
MACD crossover and price below the 20 EMA suggest sellers remain in control.
CRO trades within a descending triangle, and CMF signals fading inflows
The countdown to Cronos’ Smarturn upgrade was meant to fuel excitement. Instead, it is sparking concern for the altcoin.
Over the past 30 days, the Cronos (CRO) price has dropped by 22%. This development contradicts its performance in August when the price consistently rallied.
With the upgrade set to happen today, what does it mean for the Cronos crypto price?
Let’s find out.
Cronos Faces Pressure
As of this writing, the Cronos crypto trades around $0.15. On the 4-hour chart, the altcoin is consolidating within a symmetrical triangle, signaling a period of indecision between buyers and sellers.
Amid this setup, the Moving Average Convergence Divergence (MACD) has formed a bearish crossover. In this position, the MACD line moves below the signal line, indicating a shift in momentum toward the bears.
Get These Top Crypto Casino Offers Now!
Sponsored
Disclosure
We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
In that case, the cryptocurrency might retest the lower support zone near $0.13, as stated earlier.
Smarturn Upgrade Can’t Help
Despite this bearish setup, the Cronos Smartun upgrade will take place today.
“The upcoming Cronos Mainnet “Smarturn” upgrade introduces major protocol improvements across the EVM, including smart accounts, new opcodes, Ethereum client updates, IBC interoperability, and several core performance enhancements,” The project disclosed.
It also stated that the upgrade will occur at block height 38,432,212, estimated to take place around 7 A.M. GMT.
During this period, users may experience up to 60 minutes of downtime as the network finalizes the upgrade process and restores normal operations.
CRO Price Prediction
Looking at the daily chart, it doesn’t appear that the Cronos will see a rebound following the upcoming upgrade.
The chart shows CRO’s price trapped in a descending triangle, a typically bearish pattern that signals continued downward pressure.
While support remains around $0.14, the Chaikin Money Flow (CMF) has dropped below the zero line, indicating weak capital inflows.
As a result, CRO may struggle to attract sufficient demand to push prices higher.
If this trend continues, the cryptocurrency risks falling below $0.10 in the near term.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
