On a Tuesday that felt like a scene from a Chekhov play, the price of CRO staged a powerful rally, climbing over 20% after the news of its inclusion in a proposed Trump Media-backed Blue Chip ETF. The embattled token, much like a character in a tragicomedy, found itself suddenly in the spotlight, sparking renewed bullish momentum.
Cronos (CRO) surged over 20% on Tuesday, a day that could have been titled “The Unexpected Inheritance,” after Trump Media and Technology Group filed with the U.S. Securities and Exchange Commission to launch a Blue Chip ETF. This ETF, a veritable who’s who of the crypto world, includes CRO alongside Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Ripple (XRP). Notably, Cronos received a 5% allocation, which is more than Ripple’s 2%. If approved, the ETF will be listed on NYSE Arca, and its assets will be custodied by Foris DAX Trust Company, Crypto.com’s custody arm. One can almost hear the sighs of relief from the CRO community, as if a long-lost relative had finally left them a small fortune.
The news sparked a sharp breakout, sending CRO price from its July 8 open at $0.081 to an intraday high of $0.10, breaking above a descending trendline and out of the recent consolidation range. It was as if the market had suddenly remembered the forgotten protagonist and decided to give them a second act.
The rally pushed the price through key moving averages and briefly tested a previous swing-high resistance. It also approached the 200-day SMA, now acting as its dynamic resistance. The market, it seems, was in the mood for a bit of drama.
As of now, CRO price has pulled back slightly, trading around $0.092, just above the horizontal support near $0.089–0.090. This area, which previously acted as resistance in late April – early May, is now being retested as support following the breakout. Holding this level would be bullish, confirming a successful retest and setting up for a potential move back toward the $0.101 (200-day SMA) and $0.105 resistance zone. It’s a classic case of “what was once a barrier is now a foundation.”
In addition to the boost from its inclusion in the Truth Social Blue Chip ETF, CRO price may soon gain further momentum from the potential approval of the Canary Staked CRO ETF, which was filed with the SEC on May 30 and is currently under review. It’s as if the market is waiting for the next act, where the protagonist might finally find their happy ending.
These bullish catalysts may offer a much-needed respite for CRO holders, following a major blow in March when Cronos voted to reissue 70 billion previously burned CRO tokens. The controversial move drew sharp backlash from the community, raising centralization concerns. It was a moment that felt like a Chekhovian twist, where the hero’s own actions threatened to undo their progress. But, as they say, the show must go on, and the market, ever the unpredictable audience, seems ready for the next act.
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2025-07-09 11:00