- Cronos retreats from monthly high, paring gains after 20% rally on Truth Social ETF buzz.
- CRO rose 20% following its inclusion by Trump Media & Technology Group in Truth Social Crypto Blue Chip ETF filing.
- 200-day SMA tests bulls but convergence of 100-day and 50-day SMAs put a floor under CRO/USD prices.
- Bullish bias builds within multi-month triangle as SEC facilitates ETF approvals & Trump advocates for crypto.
Cronos (CRO/USD) dropped nearly 2.0% to $0.0955 during Wednesday’s European session, pulling back after a strong 20% rally that set a fresh monthly high. The pair retreated from the 200-day Simple Moving Average (SMA), following a bullish surge sparked by Trump Media & Technology Group’s inclusion of CRO in their Truth Social Crypto Blue Chip Exchange-Traded Fund (ETF) filing the day before.
U.S. President Donald Trump’s Trump Media & Technology Group (TMTG), the parent company of his social media platform Truth Social, has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to launch a “Blue Chip Crypto” ETF. According to the filing, the ETF will hold approximately 70% in Bitcoin (BTC), 15% in Ethereum (ETH), 8% in Solana (SOL), 5% in Cronos (CRO), and 2% in Ripple (XRP) by value. It is set to list on NYSE Arca as a passive fund that will track the prices of the listed cryptocurrencies, while also engaging in staking for Ethereum, Solana, and Cronos.
The SEC accepted the filing on July 8, initiating a fast-tracked 75-day approval window, a major shift from the previous 240-day timeline.
Cronos (CRO) stood out in the filing, as it is the native token of the Cronos blockchain, which is closely linked to the Crypto.com exchange. Its inclusion drew attention from investors and traders alike.
In a broader context, TMTG had earlier outlined its digital asset strategy, which includes a Bitcoin treasury plan and aims to raise $2.44 billion through private placement. This underscores Donald Trump’s growing involvement in the crypto space. According to Bloomberg, Trump and his family have reportedly earned over $620 million from recent crypto ventures, with his exclusive digital asset holdings now making up around 9% of his estimated $6 billion net worth as of June.
Moreover, the SEC’s recent moves to support ETF filings have indirectly fueled optimism in the crypto market. Combined with favorable technical signals, this points to more potential upside for CRO/USD despite its recent price pullback.
Technical Analysis
Cronos (CRO/USD) retreats from the 200-day SMA but a convergence of the 100-day and 50-day SMA joins upbeat pattern in the 14-day Relative Strength Index (RSI) and bullish signals from the Moving Average Convergence Divergence (MACD) to keep the buyers hopeful.
CRO/USD: Daily Chart Signals Optimism for Bulls
Source: TradingView
Cronos (CRO/USD) continues to trade within a multi-month symmetrical triangle pattern that began in late February, recently pulling back after testing the 200-day SMA resistance at $0.1015. However, immediate downside appears limited, as the 50-day and 100-day SMAs converge near $0.0920, acting as strong short-term support.
Adding to the bullish bias, the RSI has pulled back from overbought territory but remains above the 50.00 neutral level — a sign of ongoing bullish momentum. Additionally, the MACD indicator shows strengthening bullish signals, favoring continued upside for CRO.
With these technical factors in play, CRO/USD is likely to rebound and retest the 200-day SMA at $0.1015. A successful breakout could see the pair challenge the upper boundary of the symmetrical triangle near $0.1055. If bullish momentum persists beyond that, CRO could target the May and March highs at $0.1100 and $0.1200, respectively, followed by the January low of $0.1211.
On the downside, a clear break below the $0.0920 support — formed by the 50-day and 100-day SMAs — would expose CRO to the early-July swing high near $0.0845. Below that, attention would turn to the triangle’s lower trendline around $0.0790. A decisive drop beneath this key support could pave the way for a retest of the March yearly low near $0.0682.
Conclusion
CRO/USD remains fundamentally supported despite a recent 4.0% pullback, driven by its inclusion in Trump Media & Technology Group’s “Blue Chip Crypto” ETF filing. While the price eased from the 200-day SMA, strong support near $0.0920 and improving sentiment suggest bullish potential remains intact. Further gains may follow if key resistance levels are reclaimed, keeping CRO in focus amid growing political and institutional interest in crypto.
