Chromia Token (CHR) Surges by Nearly 15% in a Single Day
The cryptocurrency market has been relatively stagnant recently, with uncertainty looming. However, the Chromia (CHR) token defied the trend yesterday by gaining almost 15% in value. While it did experience a slight dip towards the end of the day, it still closed with a respectable 7% increase.
Over the past two weeks, the price of the CHR token has seen a significant jump of nearly 50%. This surge comes after the token hit a temporary bottom at around 12.5 cents two weeks ago. Currently, the price stands at approximately 17 cents.
Technical indicators suggest that the CHR token may continue its upward trajectory. A double bullish divergence in the MACD daily chart indicates the potential for further price increases, with the next targets set at 24 to 32 cents.
Chart analysis reveals that the CHR token is currently facing resistance in the range of 17 to 20 cents. A breakthrough above this level could signal further gains, with the next major resistance marked by a white trendline. On the flip side, if the token fails to break through, the next support level is expected to be between 10 to 11 cents.
Key indicators such as the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and Elliott Waves are also pointing towards a positive outlook for the CHR token. The RSI on the 4-hour chart is currently in the neutral zone, while the MACD on the daily chart shows a strong bullish divergence, indicating potential price growth.
In conclusion, the recent surge in the CHR token, coupled with bullish technical indicators, suggests that further price increases may be on the horizon. Traders are advised to keep a close eye on key support and resistance levels to gauge the token’s future movements.
For those looking to capitalize on the potential gains of Chromia, Bitget is recommended as a low-fee cryptocurrency trading platform. Take advantage of the CHR token’s momentum and start trading on Bitget now!
