Cronos Price Surge: Can It Hold the Gains After 20% Jump?

Cronos Price Surge Momentum Builds After Truth Social ETF News

In a surprising turn, Cronos Price Surge took attention in the crypto market. The token jumped 20% in 24 hours after Trump's Truth Social filed S1 for a new crypto ETF,  and included CRO as one of the five selected cryptocurrencies. 

Source: Wu Blockchain

Trump Media’s ETF Fuels Cronos Price Surge

The ETF, named as the Truth Social Blue Chip Crypto ETF, was filed with the SEC on July 8. It aims to give investors access to top cryptocurrencies through a trusted fund. In a surprise move, the fund listed CRO with a 5% allocation, alongside Bitcoin, Ethereum, Solana, and Ripple. The token jumped 20% intraday to $0.10 its highest since early June highlighting immediate Cronos Price Surge. 

Source: CoinMarketCap

The token is currently trading at $0.09414, with an increase of 9%, while the trading volume has spiked by 1342% in the last 24 hours. 

Inside the Truth Social Crypto ETF

Bitcoin: 70%, Ethereum: 15%, CRO: 5%, Solana: 8%, Ripple: 2%

The ETF will be listed on NYSE Arca once approved.

Volume Spikes and Technical Breakout

Trading volume surged by 2,332% to hit $262 million, showing huge interest from the market. 

From a chart perspective, Cronos Price Surge was also backed by technical signals. 

Ecosystem Upgrade

There have also been ecosystem upgrades that caught the community’s attention. The recent EVM mainnet update made block times faster, cutting them down to less than a second. This change helps improve the speed and performance of DeFi apps, making its network more useful. 

Source: X (Previously Twitter)

Price Prediction

The momentum may have shifted following the Exchange Traded Fund filing news when the Cronos Price Surge over 24% during the trading day, between $0.08 and $0.1006. Technically, the crypto was restricted between FIB and 0.236 FIB following the breakdown earlier this year. But the breakout above the 50-day moving average proved crucial, turning that level into strong support.

An ability of CRO to hold above the 50-day and then clear the 200-day moving average resistance around $0.1014 would open the bullish continuation towards the 0.236 Fibonacci target at $0.1090.

Source: TradingView

An breakout past $0.1090 may invalidate the present bearish structure and could trigger a new bullish wave, with the next target zone set for $0.1150–$0.1200 in the short-to-mid term, depending on market sentiment and volume support.

What’s Ahead?

The sudden appreciation of the Cronos Price Surge has caught the interest of potential or serious investors. In case the fund is approved, CRO might continue to experience institutional interests as well as price movement.