- Cronos ($CRO) has lately erupted in value due to the formation of a $6.4 billion Cronos treasury
- Trading volume exploded, surging over 2,000% to $2.3 billion, indicating unprecedented demand
- If the price stays above the breakout level (roughly $0.2700), it could continue upward
Cronos ($CRO) has lately erupted in value amid one of the most audacious moves in the crypto industry – the formation of a $6.4 billion Cronos treasury, named the Trump Media Group CRO Strategy.
Announced jointly by Trump Media and Crypto.com, this venture includes $1 billion in CRO tokens, $200 million in cash, $220 million in warrants, and a $5 billion credit line. This set off a huge 40% rally, propelling CRO to highs not seen since May 2022.
Additionally, trading volume exploded, surging over 2,000% to $2.3 billion, indicating unprecedented demand.
At the moment, Cronos’ price is about $0.3743, which is roughly a 165% increase compared to the last 7 days.
Related: Trump Media Launches Nasdaq-Listed CRO Strategy, Token Skyrockets
CRO Price Analysis and What to Expect
The cryptocurrency is performing great right now, and if we look at the 4-hour chart from TradingView, we can see some strong bullish trends.
As mentioned, there is a big spike in the price at approximately $0.1620 due to the Cronos treasury announcement. Before this spike, there was a period of consolidation from the 15th to the 26th. This indicates that there was a period of indecision or accumulation, leading to a breakout.
Related: Truth Social to integrate CRO payments in massive Trump Media, Crypto.com deal
After that, the chart shows a classic bullish breakout pattern from a consolidation phase, which can often signal a continuation of the upward movement. If the price stays above the breakout level (roughly $0.2700), we might see a flag or pennant forming on shorter time frames, suggesting that the price could keep going upward.
CRO Key Key Levels to Watch
To confirm further bullish momentum, the price must push beyond the recent high of around $0.3750. However, a move below the $0.2700 zone, especially with increasing volume, would suggest that the bullish trend may be weakening.
Riding the hype around the treasury announcement and Cronos’ current price trajectory, a lot of crypto enthusiasts are predicting even more gains in the future.
Still, caution is always advised, particularly as skeptics question the political undertone of the rally and Cronos’s long-term fundamentals. If the market narrative shifts away from politically backed utility, CRO could retract, more so if the treasury initiative stalls.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
