Cronos struggles to break out despite major ecosystem developments
Cronos (CRO) has been one of the most underperforming coins in the market over the last few months. The coin has literally blown hot and cold but despite this, it has failed to establish any decisive breaks. However, Cronos still continues to report major ecosystem development news. Here are the highlights:
Cranos recently announced a partnership with racing giant Aston Martin
The coin has however failed to reflect these huge developments in the pricing
Cronos remains well below the $0.2 mark and could stay there for a while
Data Source: TradingView
Where does CRO go from here?
There is no doubt Cronos is a huge project in crypto. The fact that the coin is now selling for less than $0.2 suggests that it’s undervalued. As more ecosystem developments continue to be reported, we expect the underlying fundamentals for Cronos to improve. This will however not reflect in the price until overall sentiment in the market improves.
As long as crypto investors are not willing to take risks, then fundamental ecosystem news doesn’t matter. But despite this, CRO still has enough potential to surge to $0.5 this year. This will roughly be more or less where it was a few weeks ago.
Nonetheless, it will still be a growth of around 5x. Now, this will of course not happen in a few days. But before the end of 2022, CRO could easily be 5x your money, especially if more and more investors discover just how undervalued it is.
How to trade CRO
The best play for CRO has to be long-term. There is just so much volatility in the market now, so predicting assets in the short term is very hard.
But if you don’t mind holding CRO for a few months, then you will definitely get some amazing returns. Even if the coin doesn’t hit $0.5, you could still end up with decent double-digit returns.