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Exchanges have been seeing a whole lot of drama recently. And, no surprise, particularly after the current Terra debacle which despatched shockwaves via each centralized exchanges and DEX communities. Naturally, alternate tokens additionally noticed a whole lot of motion over the previous few weeks.
Specifically, Cronos [CRO], the 18th greatest crypto by market cap, was buying and selling at $0.1995 at press time. It rose by 4.43% during the last 24 hours and fell by 14.81% over the week. This would possibly sound exceptional in itself, however there’s extra occurring behind the scenes.
Time to CRO up
The very first thing to notice is that CRO velocity has been dramatically rising, which indicators that buyers are sending their tokens to a larger-than-usual variety of addresses. That is an particularly bullish signal for the asset – if buyers have been shopping for the dip quite than exiting.
Supply: Santiment
On that notice, whale transactions value over $100,000 additionally spiked as CRO plunged beneath $0.25. Nonetheless, because the token rallied once more, whale transactions started to lower. It appears that evidently extra buyers have been within the recreation to purchase the dip quite than to take their earnings.
Supply: Santiment
Moreover, CRO lively addresses have been on the rise since early Could as many invariably took benefit of the chance to purchase the dip. Nonetheless, at the same time as CRO rallied once more at press time, lively addresses rose sharply.
This implies that CRO adoption is certainly rising.
Supply: Santiment
The place are you CRO-ing?
Now, comes the million greenback query. Is CRO’s value headed upwards or downwards?
The Relative Volatility Index [RVI] indicated that CRO had a great probability of seeing its rally proceed. Particularly because it got here up barely above 50.
Supply: TradingView
Moreover, the Adjusted Value DAA Divergence indicator was flashing inexperienced bars at press time – A bullish signal. Nonetheless, the bars have been getting shorter as CRO rallied, suggesting that the pink promoting indicators may not be too far off.
Supply: Santiment
