The past 24 hours have been electrifying for Cronos. CRO price soared to $0.1537, jumping 6.17% in a day and 5.7% over the week. This is as buyers ignited a powerful rally that set eyes popping within the crypto community. Today, I want to break down exactly what lit this fire under CRO, and where the price action could be headed next.
Talking about which, the team’s successful application for a US trust bank charter has sparked optimism regarding regulations and institutional involvement. On top of that, there’s growing speculation that CRO could play a pivotal part in crypto ETFs being floated by Trump’s camp. All these factors came together just as the technicals lined up for a classic breakout.
After declining near support, CRO price exploded past the psychological $0.15 barrier, trading at $0.153 at the last check. The 24-hour trading volume spiked by over 70%, reaching $36.04 million, a clear indicator that both retail and institutional traders are back in the game.
Importantly, CRO now sits above its 7-day SMA at $0.145 and EMA at $0.147, a combination that typically encourages short-term bulls. The MACD histogram has flipped positive (+0.000124). This is while the RSI at 42.45 suggests there is more room before overbought territory threatens a pullback.
Traders are closely watching how CRO handles the $0.1551 area, the recent intraday high. If it can consolidate above $0.15, attention shifts to $0.1755, the 38.2% Fibonacci retracement level from the last major downswing. This zone coincides with the 30-day SMA near $0.1758.
Successively, overcoming this will require sustained buying interest and may trigger some profit-taking as technical traders lock in gains. Contrarily, $0.149 remains immediate support, backed by the strong accumulation zone observed earlier this week.
The rally is being driven by Crypto.com’s US trust bank move, rising ETF hopes, and bullish momentum from key technical signals.
No, with an RSI at 42.45, CRO still has room to climb before being considered overbought, though resistance levels could trigger short-term corrections.
A clean move above $0.1755 and the 30-day SMA at $0.1758 could open the door to higher targets, assuming overall crypto sentiment stays positive.
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