CRO Surges Over 35% on Trump-Linked ETF Buzz: What's the Peak?

CRO has exited its multi-week consolidation phase due to new ecosystem developments and potential ETF plans.

Cronos (CRO) surged by 38% to reach an intraday high of $0.114 on March 25 afternoon in Asia, breaking out of its consolidation range of $0.07-$0.095 that it had been stuck in for the past 4 weeks. Its market capitalization was at $2.26 billion, while its daily trading volume increased by over 1,300% to nearly $300 million due to a significant influx of trading activity.

The recent gains came after reports that Trump Media & Technology Group, the parent company of Truth Social, has entered into a non-binding partnership with Crypto.com to launch a new line of exchange-traded products under the Truth.Fi brand.

The upcoming ETFs and ETPs are expected to include cryptocurrencies like CRO and Bitcoin as well as traditional securities that highlight a “Made in America” theme, touching industries such as energy, manufacturing, and more.

Investors are excited as the initiative appears to be in line with Crypto.com’s broader strategy, which includes plans to file for a dedicated CRO ETF later this year, likely in the fourth quarter.

Additionally, the altcoin gained traction as the project is set for a mainnet upgrade tomorrow, March 26, at 7:00 AM UTC.

The upgrade will introduce Smart Account SSO, allowing users to log in with Google, Apple ID, or email, eliminating the need for seed phrases or private keys. It also lays the groundwork for the ZK Gateway, which is expected to improve cross-chain interoperability for ZK-rollup chains.

Derivatives traders are investing in CRO, with open interest in its futures market nearly doubling to over $44 million in a single day, according to CoinGlass. Social sentiment has also turned positive, with CRO trending on X.

Market analysts are optimistic about the token’s long-term prospects. One community member predicted a potential surge to $3, a gain of over 2,600% from current levels.

Another anonymous analyst, CW8900, noted that a breakout above the $0.235 mark could trigger a full-fledged bull run for CRO.

$CRO is breaking through the first sell wall.

If it breaks through that sell wall, the next one is at $0.19.

And if it breaks through the sell wall at $0.235, there is no more resistance.

The real bull market starts from that point. pic.twitter.com/yYNK0dpgs3

CRO technical analysis

Technical indicators also suggest further gains for CRO in the future.

On the 1-day/USDT chart, CRO has moved above the 50-day and 200-day exponential moving averages, a strong sign of a sustained bullish reversal.

The MACD line has crossed the signal line with both pointing upwards while the Chaikin Money Flow Index was gradually shifting towards the neutral line which indicates that buying pressure is building up and fresh capital or funds is starting to flow into the asset.

Therefore, the next possible target for CRO is the $0.15 psychological resistance, a key level that could act as a short-term hurdle. A break above this zone could give bulls the confidence to push further, potentially setting their sights on CRO’s December high of $0.214 as the next major upside target.

However, community backlash over Crypto.com’s reissuance of 70 billion previously burned CRO tokens has raised questions around transparency. If the situation escalates further, it could stall or even reverse the current bullish momentum.

Disclosure: This article does not provide investment advice. The content and materials presented on this page are for educational purposes only.