Chromia is a decentralized application platform. Chromia experiences high volatility just like any other cryptocurrency which is why it’s useful to be able to predict the price of CHR and trade accordingly. Today we’ll be looking at how you can use methods such as technical and fundamental analysis to formulate your own Chromia price prediction

Chromia (CHR) is available for purchase on the following exchanges

• Binance
• Kucoin
• Bilaxy

If you’re unfamiliar with how to buy Chromia (CHR), follow the link below.

Identifying levels of support and resistance are often all it takes to start creating a CHR price prediction, at least in the short to mid-term. Horizontal resistance levels can be identified by counting the amount of times a price is tested and rejected on an attempt upwards. Horizontal support levels can be identified by counting the amount of times a a price tests and bounces from a particular price on the way down. Predicting the price of CHR can also be useful for determining sell targets if you’re already holding CHR and wondering where to sell for the highest profit.

In the following chart we can see that CHR has had many interactions with the areas marked in yellow, specifically at points marked by green arrows. Seeing as price has interacted with these marked areas many times in the past, Traders can use these areas in which to setup buy or sell orders depending on what they believe will happen. From this data you may be able to create your own CHR price prediction and trade accordingly.

Indicators can assist Traders in making a prediction on whether the price of Chromia (CHR) will go up or down. Indicators take into account various factors such as time, volume, momentum and many more to indicate whether a cryptocurrency like Chromia (CHR) may rise or fall. Although they’re unable to predict the price of CHR, they’re able to indicate trends and strength

In the following image we can see that the RSI (Relative Strength Index) Indicator which is used by a large majority of Traders is located at the bottom of the chart. The areas above and below the dotted lines indicate whether Chromia (CHR) is overbought or oversold. The RSI takes into account prior price action and volume to indicate whether there is a shift from buying to selling or selling to buying.

We’ve highlighted three different occasions where CHR has been overbought or oversold which quickly resulted in a change in overall trend.

Using support/resistance, trendlines, moving averages and simple indicators like the RSI, you can create a reasonably accurate Chromia price prediction for 3, 6 and 12 months ahead of time. At the time of writing CHR is worth around $0.06 USD and we think that price could reach somewhere around the $0.15 to $0.25 USD mark in the next few months.

Fundamental analysis should be a part of your analysis when creating your own Chromia price prediction. Researching what the Chromia Team is doing in the next few months can help you determine whether or not an investment will be profitable after certain events, roadmap goals or milestones are met. Technical analysis holds more weight against fundamental analysis in determining short term CHR price movements but it’s important to acknowledge upcoming events in the coming weeks and months.

Through current trends, Investor sentiment and the overall direction of the cryptocurrency market, we think Chromia (CHR) has a good chance of visiting the $0.15 to $0.25 USD mark in 2022 as long as the trend continues and the Team continues to work on their products and partnerships.

When deciding on if Chromia (CHR) is a good investment for you, taking into account risk and reward is crucial. We can predict the price of CHR both in the short term and long term, but expectations need to be reasonable for each. Long term we think CHR will appreciate based on the fundamentals of the Chromia project and the progress the Team is making towards their roadmap goals and milestones.

By using Technical Analysis we are able to predict what the price of CHR may be in the short term and calculate our investment sizes accordingly. Using horizontal resistance and support levels, moving averages, various indicators and other techniques, you can make an educated price prediction on whether the price will go up or down in the next few days, weeks and months.

The cryptocurrency market is extremely volatile and hard to predict in the long term so researching the fundamentals and progress of Chromia is an essential task before deciding to invest any amount of funds for the long term with the aim of holding for months or years. When analyzing the price of Chromia to form a price prediction for the short or long term, taking both technical and fundamental analysis into account is essential.