Connect with us

Chromia News

Chromia (CHR) Price Drops by 30% in 2022, then Recovers Almost in Full

mm

Updated

 on

Securities.io is committed to rigorous editorial standards. We may receive compensation when you click on links to products we review. Please view our affiliate disclosure. Trading involves risk which may result in the loss of capital.

A large portion of the cryptocurrency market saw negative price performance in 2022, but that definitely cannot be said for all coins out there. Some, such as Chromia (CHR) have thrived in these first few weeks of January 2022, and their coin holders are more than excited to see what is coming next.

Chromia price history

Chromia was launched all the way back in 2019, but it didn’t see any major development in terms of its price until March 2021. For most of its existence between May 2019 and March 2021, the coin’s price was just going up and down between $0.01 and $0.03, shooting slightly higher than that here and there, but never growing particularly high, and always correcting after these slow and short rallies.

Chromia price history

In March 2021, however, the coin suddenly shot up, from $0.05 on March 2nd to $0.56 on March 12th. In only 10 days, the coin’s price increased tenfold, and while it corrected since then, it still spent the next several months trying to breach a resistance at $0.4, which is still miles above its price until that point.

Unfortunately, each attempt forced it further and further down until it eventually dropped below its support at $0.20, turning it into a resistance that held for the entire first half of summer 2021. The coin managed to break this level again and go beyond it in late July, once again shooting up to a resistance at $0.40. This one was much stronger and it held it down twice as long as the previous one — from late July/early August, until October 29th.

On that day, the resistance finally broke as CHR got caught up in the crypto rally that was paused during the summer, and it skyrocketed all the way up to $1.4, marking this level as its new ATH on November 20th.

What followed was a sharp crash that took it down to a support at $0.5 on December 13th, which was followed by a recovery to $0.87. After that, the Christmas crash caused the coin’s price to sink to $0.7 on December 29th, after which the coin once again started to recover. It ended the year with a price of $0.82.

Chromia drops, then recovers in 2022

As 2022 kicked off, Chromia’s performance was rather good. Continuing with the recovery that started n late 2021, the coin kept going up until it reached $0.96 on January 2nd. It then corrected back to $0.80, only to surge up again, but this time only to a resistance at $0.90. However, on January 6th, the coin started seeing another price correction caused by the crashing crypto industry, which took it down and forced it to break several strong supports.

The first one was at $0.80, followed by the ones at $0.75, and even $0.70. The coin’s drop was finally stopped at $0.65 late on January 10th.

Chromia drops, then recovers in 2022

After that, Chromia started recovering a bit, which allowed it to go back to the resistance at $0.80. While the resistance managed to hold it from progressing further, and it even started forcing it back down to $0.75, the situation took a turn when Chromia announced on Twitter that True Global Ventures invested $5 million US dollars into ChromaWay — the parent company of several projects, including MyNeighborAlica, Mines of Dalarnia, and Chromia itself.

Upon this announcement, the project shot up again, going up to $0.93 on January 17th. While it corrected slightly since then, the coin is still above $0.90, trying to make its breach of this level permanent.

To learn more about this token visit our Investing in Chromia guide.

Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.

Advertiser Disclosure: Securities.io is committed to rigorous editorial standards to provide our readers with accurate reviews and ratings. We may receive compensation when you click on links to products we reviewed.

ESMA: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Investment advice disclaimer: The information contained on this website is provided for educational purposes, and does not constitute investment advice.

Trading Risk Disclaimer: There is a very high degree of risk involved in trading securities. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies.

This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated. You should be aware that you may lose a significant portion of your portfolio.

Securities.io is not a registered broker, analyst, or investment advisor.