On Nov. 14, cronos rebounded, as Crypto.com CEO Kris Marszalek held an “Ask me Anything” (AMA) session, while speculation grew on the company’s level of solvency. The concerns came after it was revealed that a transfer of $400 million was made to gate.io in recent weeks. Polygon also surged on Monday, as prices attempted to break out of a key resistance level.
Cronos (CRO) rebounded on Monday, as markets responded to Crypto.com CEO Kris Marszalek’s comments on recent speculation surrounding the company’s health.
Following a low of $0.05629, CRO/USD rallied to an intraday high of $0.07459 earlier in today’s session.
The surge comes as Marszalek admitted that, “Trust was damaged, if not lost, and we need to focus on rebuilding trust.”
Looking at the chart, today’s move saw CRO rebound from an all-time low, and as of writing the asset is trading nearly 8% higher, at $0.07051.
In addition to this, the 14-day relative strength index (RSI), is currently tracking at 32.99, which is below a ceiling of 36.20.
Overall, CRO is down by 42% from the same point last week.
Polygon (MATIC) was another notable gainer on Monday, as the token attempted to reenter the $1.00 region.
MATIC/USD surged to a peak of $0.9573, which comes less than a day after hitting a low of $0.8412.
Today’s rebound in price saw MATIC briefly breakout of a resistance level of $0.95, however it has since slipped below this point.
As can be seen from the chart, prices have somewhat stuttered, as the RSI neared a collision with a ceiling of its own.
The index is currently tracking at 48.07, which is marginally below the aforementioned resistance of 49.00.
Should MATIC bulls intend to take the token back above $1.00, price strength will first need to move beyond this 49.00 point.
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Could we see polygon move back above $1.00 in the coming days? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.
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