The altcoin market is bleeding as the Bitcoin price once again failed to break above its $38,000 resistance. This put a stop to a phenomenal run in the CRO price which had an 18% surge in its previous session. At the time of writing, the native asset of Cronos ecosystem was down 7.14% on the daily timeframe.
Most cryptocurrencies are bleeding after a failed breakout attempt by Bitcoin. The intense sell-off in the leading digital asset resulted in a panic in the whole market as the traders rushed to book their profits
If you look at the following chart of CRO coin, you will notice a major surge in their trading volume in the past few days. This surge can be attributed to the expanding global footprint of Crypto.com.
However, the Cronos (CRO) price seems to be really struggling to find strength above $0.098 level as shown in the chart below. A clear break above this level would pave the way for a retest of the $0.13 level which lies almost 33% above the current price.