CRO Price Explodes 20% as Trump Media Backs Blue Chip ETF!

Cronos Soars on News of Inclusion in High-Profile ETF

Holy smokes, CRO price went absolutely wild on Tuesday, skyrocketing over 20% after the bombshell dropped about its spot in a proposed Trump Media-backed Blue Chip ETF! The news set off a firestorm of bullish energy for the token that's been through the wringer lately.

Cronos (CRO) blasted off over 20% on Tuesday when Trump Media and Technology Group filed with the U.S. Securities and Exchange Commission to launch a Blue Chip ETF that's got CRO rubbing elbows with the big dogs - Bitcoin, Ethereum, Solana, and Ripple. Get this - Cronos snagged a sweet 5% allocation, even more than Ripple's measly 2%! If the SEC gives it the green light, this bad boy will be strutting its stuff on NYSE Arca with its assets chilling at Foris DAX Trust Company, Crypto.com's custody arm.

CRO Price Breaks Out, Testing Key Levels

The news hit like a lightning bolt, sending CRO price soaring from its July 8 open at $0.081 all the way up to an intraday high of $0.10. It busted right through a descending trendline and blasted out of the recent consolidation range like it was nothing!

The rally was so powerful it smashed through key moving averages and even flirted with a previous swing-high resistance. It got so close to the 200-day SMA that's been acting like a dynamic resistance, it could taste it!

Right now, CRO price has pulled back a bit, hanging around $0.092, just above the horizontal support near $0.089-0.090. This area used to be a pain in the neck as resistance back in late April - early May, but now it's getting put to the test as support after the breakout. If it can hold strong here, it's a bullish sign, confirming a solid retest and setting the stage for a potential run back to the $0.101 (200-day SMA) and $0.105 resistance zone.

More Catalysts on the Horizon for CRO

On top of the boost from its spot in the Truth Social Blue Chip ETF, CRO price might be gearing up for another surge if the Canary Staked CRO ETF gets the thumbs up from the SEC. They filed for it on May 30 and it's currently under review.

These bullish catalysts could be just what the doctor ordered for CRO holders, especially after the brutal hit they took in March when Cronos decided to reissue 70 billion previously burned CRO tokens. That move was like a slap in the face to the community, stirring up a hornet's nest of centralization concerns.