Advertisement Coin Tops $0.40 as Recent Rally Continues

Hassan Maishera
Published: Nov 8, 2021, 17:11 GMT+00:00

The coin CRO has set a new all-time high above $0.40 and could rally towards the $0.50 level over the next few hours.

Bull chart

The CRO coin has hit a new all-time high again, continuing an excellent performance that has spanned over two weeks.

CRO Breaches the $0.40 Resistance Level

CRO, the native token of the cryptocurrency exchange, has set a new all-time high above the $0.40 level. The coin reached this level after rallying by more than 16% over the past 24 hours, making it one of the top performers amongst the leading cryptocurrencies by market cap.

At the time of writing, CRO is trading at $0.390 per coin, slightly down from its all-time high price of $0.40. If CRO continues with its recent performance, then it could likely touch the $0.50 level over the next few days.

The next resistance level for CRO is the $0.47 level. Surpassing that resistance level would make it possible for the coin to make a move higher towards the $0.50 mark over the next few hours.

However, CRO would need the support of the broader cryptocurrency if it intends to establish a new all-time high close to the $0.60 point. On the flip side, the cryptocurrency could retrace lower towards last week’s all-time high of $0.32. The slight retrace could allow the bulls to replenish and embark on another rally, or the bears might regain control and drag it below the $0.30 level.

The rally coincides with the broader cryptocurrency market cap reaching the $3 trillion mark for the first time. The total cryptocurrency market cap has been rapidly increasing in recent weeks and could soar higher before the end of the year.

CRO.USD chart. Source: FXEMPIRE Announces Support for Cronos Cross-Bridge Mainnet Beta Launch announced that it will support the Cronos cross-bridge mainnet beta, which was launched earlier today. The release is expected to lead to greater interoperability between the Cosmos and Ethereum Virtual Machine (EVM) ecosystems.

The cross-bridge mainnet will enable developers to transfer dApps and smart contracts from Ethereum and EMV-compatible chains to the Cronos network faster and cheaper than before. The update will be available to more than 10 million customers.

About the Author

Hassan is a Nigerian-based financial Journalist and cryptocurrency investor.