CRO Price Spikes After Crypto.com Announces Partnership with Trump Media to Develop Exchange-Traded Funds (ETFs)

On March 24, Crypto.com announced a partnership with Trump media to develop Exchange-Traded Funds (ETFs) under the Truth.Fi brand.

Crypto.com, known for its credit card and exchange, announced a partnership with Trump media to develop Exchange-Traded Funds (ETFs) under the Truth.Fi brand.

Crypto.com, known for its credit card and exchange, announced a partnership with Trump media to develop Exchange-Traded Funds (ETFs) under the Truth.Fi brand.

The ETFs will provide exposure to Bitcoin (BTC), CRO, and other industries.

The ETFs will provide exposure to Bitcoin (BTC), CRO, and other industries.

The ETFs will be available on Crypto.com’s app upon launch.

The ETFs will be available on Crypto.com’s app upon launch.

“We are incredibly proud to partner with Trump Media & Technology Group to launch their first line of ETFs with Truth.Fi,” said Kris Marszalek, CEO of Crypto.com.

Following the news, the CRO price spiked more than 30% and reached a new monthly high.

However, after the initial excitement from the news announcement subsides, the key question is: Will the rally continue?

CRO Price Spikes

Since September 2023, the CRO price has increased alongside an ascending support trend line.

Since September 2023, the CRO price has increased alongside an ascending support trend line.

The crypto used it as a spring to reach the cycle high of $0.233 in December 2024.

More recently, the trend line (black circle) was touched four times in the past month, leading to a significant bounce this week.

If the CRO price increase continues, the next closest resistance will be at $0.132, a Fibonacci and horizontal resistance level.

While the CRO price bounced, technical indicators are not yet bullish.

While the CRO price bounced, technical indicators are not yet bullish.

Although the Relative Strength Index (RSI) is increasing, it is still at 50.

The Moving Average Convergence/Divergence (MACD) provides a similar reading.

The Moving Average Convergence/Divergence (MACD) provides a similar reading.

The indicator is attempting to make a bullish cross but remains below 0.

Therefore, the weekly time frame does not confirm whether the CRO price has begun a bullish trend reversal or simply a relief rally.

Early March Breakout

The daily time frame chart shows that the CRO price broke out from a descending resistance trend line on March 6.

This breakout coincided with the announcement of a Cronos Strategic Reserve Proposal.

This breakout coincided with the announcement of a Cronos Strategic Reserve Proposal.

The breakout follows a five-wave downward movement (red), which concluded on February 28.

Thus, the wave count suggests that the trend is bearish, and the ongoing increase is just a relief rally.

The most likely count suggests that CRO is in wave A of an A-B-C structure (green), which could take the price to the 0.5-0.618 Fibonacci retracement resistance area of $0.151-$0.171.

The previously mentioned resistance level of $0.131 could serve as a local top, signaling the end of wave A. Afterward, wave C could reach the indicated target.

In contrast to the weekly time frame, technical indicators are bullish.

In contrast to the weekly time frame, technical indicators are bullish.

This is especially evident in the MACD, which has generated a bullish divergence (orange) and is now positive.

Hence, while the weekly time frame remains uncertain, the daily one suggests that the CRO increase will continue in April.