Cronos price on scary trajectory that could spell 15% loss this Friday for CRO bulls
Cronos (CRO) price sees a pickup in selling pressure after the ASIA PAC session was unable to hold its head above $0.065 on Friday. As the monthly S1 support level is being breached, more downside potential is in the pipeline. Bears are no longer sticking to the script and are moving away from the red descending trendline in order to steepen the decline and head for a 15% sell-off this Friday alone.
Cronos price is setting itself up for a complete erasure of all incurred gains for 2023. There were a few telling signs along the way that could have warned bulls of what was to come. The false break out of the red descending trend line followed by a topside rejection against the 55-day Simple Moving Average on Monday was the moment where the sell-off got triggered.
Lido DAO could begin its recovery as staking yield of stETH hits historical high
Lido Finance, a liquid staking solution for Ethereum, currently offers the highest staking yield on stETH, a record high of 8%. The spike in the staking yield of Ether tokens is attributable to the recent surge in popularity of meme coins, according to a data panel.
Based on data from Lido Finance’s analytics on Dune.com, the spike in meme coins has fueled a surge in activity on the blockchain. This rise in on-chain activity has caused an increase of the staking yield of stETH, which reached a record high of 8%.
Accumulation of $1 billion worth of ETH prevents Ethereum price from falling below this key level
Ethereum price has been setting the path for most of the major and minor altcoins in the market, just as ETH investors are doing for it. The mixed behavior from different cohorts suggests that there is still some uncertainty regarding where the market could go. However, investors are doing their best to prevent a downfall.
Ethereum price trading at $1,795 is currently at a monthly low, following a decline of more than 10% in the last few days. The concern of losses among the investors could have actually driven the price down further, but the optimism outweighed the fear, preventing a drastic drawdown.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto Today: Poland to adopt BTC as Hedera, Tezos rally alongside Microstrategy investing another $4.6B
While Solana’s daily time frame gains were subdued at 2.2%, the SOL price action drew attention on Monday as traders brace for a potential breakout to new all-time highs.
Bitcoin could see another parabolic run following rising institutional interest
Bitcoin (BTC) began the week positively, rising over 3% above the $91K threshold on Monday. Despite the recent rise, BTC could begin another extended bullish move as top firms are increasing their Bitcoin holdings and potentially adopting it as a reserve asset.
Ethereum Price Forecast: ETH risks decline to $2,258 as exchange reserves continue uptrend
Ethereum (ETH) is up 1% on Monday after ETH ETFs hit a record $515.5 million inflows last week. However, rising exchange reserves and realized losses could trigger bearish pressure for the top altcoin.
SOL Price Forecast: Solana nears all-time high as VanEck, BONK spark $2.9B inflow
Solana (SOL) price reached a new monthly time frame peak of $248 on Monday, November 18, up 60% within the last 14 days. Derivatives market trends signal potential for more upside as bulls set their sights on new all-time high.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.