Cronos (CRO), the native cryptocurrency of the Cronos blockchain, is under renewed selling pressure as its price extends a month-long decline. Over the past 30 days, CRO has shed around 22%, slipping to nearly $0.15 at the time of writing.
The decline comes just hours before the much-anticipated Smarturn upgrade, which was expected to reignite investor enthusiasm. Instead, traders appear to be taking a cautious stance, with technical indicators showing increased bearish sentiment.
On the 4-hour chart, CRO is currently consolidating within a symmetrical triangle pattern, reflecting indecision among buyers and sellers. However, the balance seems to be tilting toward the bears, with the Moving Average Convergence Divergence (MACD) forming a bearish crossover, where the MACD line dips below the signal line. This typically signals weakening bullish momentum and often precedes further downside movement.
If this setup plays out, analysts warn that CRO could break below the triangle’s lower boundary, potentially triggering a drop toward the $0.13 support level, which previously acted as a price floor.
Technical Indicators Turn Bearish
The bearish outlook is reinforced by key technical indicators. The 20-period Exponential Moving Average (EMA), a widely tracked short-term trend gauge, now sits above the current price, acting as a dynamic resistance level.
CRO’s recent close below the 20 EMA indicates that sellers have regained control, while buying pressure continues to fade. Unless the token reclaims this level soon, further downside remains the likely scenario.
Should CRO fail to break above the 20 EMA in the coming sessions, the cryptocurrency could retest its lower support zone near $0.13, a level that may determine whether the asset stabilises or enters a deeper decline.
Adding to the pressure, the Chaikin Money Flow (CMF) indicator, which measures the strength of capital inflows, has fallen below the zero line on the daily chart. This negative reading suggests that investor confidence and liquidity are weakening, diminishing the likelihood of a strong rebound in the short term.
Smarturn Upgrade Arrives Amid Weak Sentiment
Despite the bearish momentum, the Smarturn mainnet upgrade for Cronos is set to roll out today. The network’s development team announced that the upgrade will occur at block height 38,432,212, estimated around 7 A.M. GMT.
The upgrade introduces several technical improvements, including smart accounts, new Ethereum Virtual Machine (EVM) opcodes, enhanced IBC interoperability, and performance optimisations aimed at increasing transaction efficiency and cross-chain functionality.
During the implementation, the network may experience up to 60 minutes of downtime as validators finalise updates and restore normal operations.
While such upgrades typically spark optimism, the current market reaction suggests that investors are prioritising price stability over technical milestones. The sell-off indicates that traders may be adopting a “wait-and-see” approach to determine whether the upgrade will meaningfully boost utility or long-term demand for CRO.
Price Prediction: More Downside Possible
From a broader perspective, the daily chart presents a descending triangle formation, a bearish continuation pattern that signals potential for further decline.
If selling pressure intensifies, CRO could slip below $0.14, a key support level that has held through previous corrections. A decisive break below this area could open the door for a fall toward $0.10, a psychological and technical support zone.
Conversely, if Cronos manages to hold above the triangle’s midpoint and build momentum, a bullish breakout above $0.16 could invalidate the bearish setup. In that case, the next resistance levels lie near $0.21, which would represent a potential recovery phase for the altcoin.
However, given current technical readings and broader market sentiment, a swift rebound appears unlikely in the immediate term.
Outlook
The Cronos Smarturn upgrade marks a significant technical milestone for the network, enhancing its compatibility and scalability. Yet, for now, the market remains unconvinced.
With the CRO price struggling below key moving averages, bearish momentum gaining strength, and on-chain indicators reflecting weak demand, the path of least resistance appears to be downward.
Unless the upgrade triggers renewed investor confidence and stronger inflows, Cronos could remain under pressure, potentially extending its losses before any sustained recovery begins.
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