- Cronos price surged from $0.06 to $0.23 in one month, with futures open interest hitting $47.55 million.
- The market structure shows higher highs and higher lows, confirming a bullish continuation pattern since early 2023.
- A potential 519% rally targets $0.8868, with current momentum and participation supporting the ongoing upward trend.
The price action of Cronos (CRO) is showing a possible long-term continuation pattern after reclaiming higher lows. The chart reflects a shift from a prolonged downtrend into a clear bullish structure, confirmed by consecutive higher highs and higher lows. A key resistance target at $0.8868 has been mapped out, sitting over 519% above the current price. This level marks a possible long-term zone of interest following a double confirmation of market reversal.
What is the Current Market Action?
Tracking the ongoing price trend at the time of press, Coinglass data reveals that CRO futures open interest reached $47.55 million, with the Cronos price at $0.23. This marks a significant increase from $0.14 recorded earlier that same day. Over the past month, Cronos price has surged sharply from the $0.06–$0.09 range to current levels.
Source: CoinglassOpen interest has followed the same trend, rising from below $20 million to nearly $50 million. This upward move in both price and open interest began accelerating in early July. The price and open interest increases have remained consistent without visible sharp pullbacks. The last time open interest neared this level was in late February 2025. The current movement reflects strong market participation and price growth heading into August. Momentum remains on the upside direction.
Historical Performance Shows a Complete Cycle Reversal
Throughout early 2022, Cronos experienced a steep decline from its all-time high. That drop formed a consistent sequence of lower highs and lower lows. A descending trendline kept price action suppressed until mid-2022. Around that period, a sideways consolidation began to take shape near the bottom.
Source: XThe market eventually broke above the descending resistance, marking the end of the bearish structure. That breakout set the first significant shift, leading to a strong upward rally and a defined higher low in early 2023. From there, the chart shows a new higher high, establishing a fresh bullish pattern for CRO.
Recent Movement Supports a Push Toward $0.8868
After setting that higher high, the market retraced again but stayed above the previous low. This created a second higher low and reinforced a bullish continuation pattern. Since then, the price has moved upward again, currently maintaining momentum in a steady rally.
The resistance target of $0.8868 remains active and visible on the chart. This marks a potential gain of over 519% from current levels. The structure now supports this move, with no current signs of reversal. Market conditions continue favoring upward movement, as shown by higher low formations and price acceleration. The structure remains valid as long as recent lows hold.
