The Cronos price has soared 24% in the last 24 hours to trade at $0.1049

This surge in the CRO price comes after Crypto.com announced a partnership with Trump Media and Technology Group to support and power a series of TMTG-branded ETFs

The Cronos price has soared 24% in the last 24 hours to trade at $0.1049 as of 12:28 a.m. EST as it is seen rising.

The price of Cronos (CRO) has surged 24% in the last 24 hours to trade at $0.1049 as of 12:28 a.m. EST on a 923% pump in trading volume to $194 million.

This surge in the CRO price comes after Crypto.com announced a partnership with Trump Media and Technology Group to support and power a series of TMTG-branded ETFs (exchange-traded funds) comprising digital and non-digital assets.

A bold collaboration that could bridge traditional finance with the crypto world—setting the stage for a new era of investment opportunities.

This includes its first of ETF of cryptocurrencies incorporating CRO and other crypto assets.

Cronos Price Analysis: Breakout From Downtrend Channel Signals Bullish Reversal

Over the past few months, the CRO price has been in a strong downtrend, forming a falling channel pattern that kept prices suppressed.

The Cronos price repeatedly failed to break above resistance levels, leading to lower highs and lower lows. However, the latest CRO price action shows a breakout above the channel’s upper boundary, suggesting that selling pressure has weakened and buyers are regaining control.

Currently, the price of Cronos has surged 24% on the day, reaching $0.1049, indicating strong bullish momentum, according to GeckoTerminal data.

However, the CRO price remains below the 200-day moving average (MA) at $0.1160, which could act as a significant resistance level in the near term.

The 50-day SMA ($0.0851) was successfully breached, confirming short-term bullish momentum.

Meanwhile, the Relative Strength Index (RSI) is at 68.73, approaching the 70-overbought zone. This suggests strong buying pressure but also raises the possibility of a short-term pullback if buyers exhaust momentum.

The Moving Average Convergence Divergence (MACD) line is above the signal line, with positive histogram bars indicating a bullish crossover. This momentum shift further supports the possibility of continued upward movement.

CRO Price Prediction

With the breakout from the falling channel pattern and bullish signals from technical indicators, the CRO price shows signs of a potential trend reversal. However, to confirm a sustained uptrend, the Cronos price must hold above the breakout zone and successfully test the 200-day SMA resistance at $0.1160.

If the price of Cronos breaks above $0.1160, CRO could target $0.14 to $0.16 as the next key resistance levels.

Conversely, if the buying pressure weakens, the price of CRO could retest the breakout zone ($0.085 – $0.095) before attempting another push higher.