Cronos Wonky Head and Shoulders showing downside 0.2671Cronos has been in a major Twilight Zone since September 2023.
And yet it's been making lower highs each time.
THere are a few reasons for the downside including:
1. Profit-Taking Following Strategic Reserve Proposal
In early March 2025, Cronos proposed reissuing 70 billion previously burned tokens to establish a strategic reserve, leading to an initial price surge. However, this move prompted significant profit-taking among investors, exerting downward pressure on the CRO price.
2. Impact of U.S. Tariffs on Market Sentiment
The implementation of U.S. tariffs on Mexico and Canada, approved by President Donald Trump, introduced economic uncertainties that negatively affected the broader cryptocurrency market, including CRO.
The technicals also speak for themselves which is showing downside to come if it breaks below the rectangle pattern and forms another lower high.
Wonky Head and Shoulders
Price<20 and 200
Target 0.2671
