Chromia is a blockchain platform that aims to solve scalability problems for DApps and this network is made up of relational blockchain groups.
Chromia technology also works on a set of validator nodes which are a subset of all Chromia nodes. This subset of nodes runs the Byzantine Fault Tolerance (BFT) consensus algorithm.
The Chromia network consensus is becoming more secure and secure when Chromia transactions also use the Proof-of-Work (PoW) consensus mechanism which is similar to that used by Bitcoin and Ethereum.
CHR is a ‘native token’ to Chromia which CHR can be used to pay transaction charges and users can also use CHR in DApps as a token.
Interesting to note on the CHR/USDT chart,
The CHR price movement seems to have seen an aggressive rise when it has jumped above 3,600% to record an all -time high (ATH) at the $ 0.76 price level.
After just recording the ATH level of $ 0.76, the CHR price is seen to continue to make a decline and reach the latest support level at the price level of $ 0.12.
At the end of the June market, the price movement showed a surge above the $ 0.12 support level and is likely to test the SBR (support become resistance) zone around $ 0.17- $ 0.18 if the price continues to rise.
If the CHR price continues to gain positive sentiment, the price is expected to head to the next SBR level of $ 0.24 before the price is expected to jump higher.
If the price movement manages to break the SBR level of $ 0.24, the CHR price is expected to give a clear signal for the price to make a trend change to a bullish trend.
Meanwhile, if the CHR price does not manage to make a rise, the $ 0.12 support level will be the target to be tested again.
The lower price decline is expected to lead to the hardest to break level at the beginning of the March market around the $ 0.09 price level.
As of 4.30pm local time, the CHR price is down more than 3% to trade above the support level around $ 0.14.
