Cronos (CRO) declined in May by another 18%. Bearish momentum seems to be approaching critical levels. On-chain data shows that long-term holders are growing increasingly unwilling to sell at the current low prices. Will they inadvertently trigger a Cronos price rebound?
Cronos (CRO) has been stuck in a downward trend for three consecutive months. As unrealized losses pile up, investors now appear unwilling to sell. How could this impact CRO price in the coming days?
Cronos Long-Term Investors Are Holding Firm
As the bearish momentum lingers, long-term investors on the Cronos network now appear to be holding out for future gains. The rising Mean Coin Age is a key indicator of this.
In simple terms, Mean Coin Age evaluates how long coins in circulation have stayed in their previous wallet addresses.
Between May 8 and June 1, CRO Mean Coin Age increased by 21% from 37.13 to 33.38.
