Biggest Movers: CRO Rebounds as CEO Kris Marszalek Admits ‘Trust Was Damaged’

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On November 14, Cronos rebounded as Crypto.com CEO Chris Marszalek held an “Ask Me Anything” (AMA) session, while speculation grew over the level of the company’s solvency. This concern came to the fore when it was revealed that $400 million had been transferred to Gate.io in recent weeks. Monday also bounced back as prices attempted to break out of a key resistance level.

Chronos (CRO)

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Cronos (CRO) rebounded on Monday, as markets responded to comments from Crypto.com CEO Chris Marszalek on recent speculation about the company’s health.

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After hitting a low of $0.05629, CRO/USD reached an intraday high of $0.07459 earlier in today’s session.

The surge comes when Marszalek admitted that, “trust was damaged, if not lost, and we need to focus on rebuilding trust.”

Biggest movers: CRO rebounds as CEO Chris Marszalek admits 'trust was damaged'
CRO/USD – Daily Chart
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Looking at the chart, today’s move reversed CRO from an all-time low, with the asset trading up almost 8% higher at $0.07051 as of writing.

Besides, the 14-day Relative Strength Index (RSI), is currently tracking at 32.99, which is below the range of 36.20.

Overall, the CRO is down 42% from the same point last week.


Polygon (matic)

Polygon (MATIC) had another notable gainer on Monday, as the coin attempted to re-enter the $1.00 area.

MATIC/USD peaked at $0.9573, less than a day after hitting a low of $0.8412.

Today’s price rally briefly broke MATIC above the $0.95 resistance level, although it slipped below this point.

Biggest movers: CRO rebounds as CEO Chris Marszalek admits 'trust was damaged'
MATIC/USD – Daily Chart

As can be seen from the chart, the price has declined somewhat as the RSI is close to hitting its own ceiling.

The index is currently tracking at 48.07, which is slightly below the above resistance of 49.00.

Should MATIC bulls intend to pull the coin back above $1.00, price strength would first be needed to move beyond this 49.00 point.

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Can we see the polygon moving above $1.00 in the coming days? Let us know your thoughts in the comments.

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Credit : news.bitcoin.com

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