Cronos (CRO/USDT) has shown an upward move followed by a small pullback that has placed it at $0.16061 with a price dip of 7.66%.
Institutional investors are cautious because the dominance of Bitcoin influences altcoins, which increases concern regarding the short-term perspective on CRO.
Cronos (CRO) Nears Overbought Zone as Price Tests Upper Bollinger Band
The recent price pushed the CRO price above the upper Bollinger Band currently. An upward breakout above the upper band is a clear sign of a strong buy signal.
It may indicate that the market is overbought. As we can see from the chart, the breakout above the CRO resistance level which is at the upper Bollinger Band was not long enough, and minor pullbacks were seen as traders had already started taking in profit.
1-day CRONOS (CRO) trading chart|source TradingView
The price has already started giving a bearish reversal but this is normal after testing the resistance level.
However, if the downward trend persists, t
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