Cronos (CRO) surges 20% on Trump Media ETF inclusion

Cronos (CRO) experienced a significant surge on Tuesday, with its price rallying over 20% following the announcement of its inclusion in a proposed Trump Media-backed Blue Chip ETF. This development has injected renewed bullish momentum into the token, which has been facing challenges in recent months.

The ETF, which is set to include CRO alongside other major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Ripple (XRP), has been filed with the U.S. Securities and Exchange Commission. Notably, CRO has been allocated 5% of the ETF, surpassing Ripple's 2% allocation. If approved, the ETF will be listed on NYSE Arca, with its assets custodied by Foris DAX Trust Company, the custody arm of Crypto.com.

The news of CRO's inclusion in the ETF triggered a sharp breakout, propelling its price from the July 8 open at $0.081 to an intraday high of $0.10. This surge allowed CRO to break above a descending trendline and escape its recent consolidation range. The rally also pushed the price through key moving averages and briefly tested a previous swing-high resistance, approaching the 200-day Simple Moving Average (SMA), which is now acting as dynamic resistance.

As of the latest update, CRO's price has slightly retreated, trading around $0.092, just above the horizontal support near $0.089–0.090. This area, which previously acted as resistance in late April to early May, is now being retested as support following the breakout. Holding this level would be bullish, confirming a successful retest and setting the stage for a potential move back toward the $0.101 (200-day SMA) and $0.105 resistance zone.

In addition to the boost from its inclusion in the Truth Social Blue Chip ETF, CRO's price may gain further momentum from the potential approval of the Canary Staked CRO ETF. This ETF was filed with the SEC on May 30 and is currently under review. These bullish catalysts could provide much-needed relief for CRO holders, who have been grappling with the aftermath of a controversial decision in March. During that time, Cronos voted to reissue 70 billion previously burned CRO tokens, a move that sparked sharp backlash from the community and raised concerns about centralization.