Key Insights :
- CRO coin price soars over 14% following new partnership with Trump Media to launch new altcoin ETFs.
- CRO, the native token of Crypto.com, a crypto exchange, has signed a binding agreement with Donald Trump’s Trump Media.
- This partnership has been made to launch an altcoin exchange-traded fund (ETF) with a Made in America focus.
CRO coin price has been gaining attention amid a significant partnership. Crypto.com’s native token makes waves after teaming up with Trump Media and Technology Group (TMTG).
This collaboration has sparked increased investor interest and market activity. As a result, CRO’s price movement could see further volatility in the coming days.
Why is CRO Coin Price Pumping?
The announcement has significantly influenced market sentiment, leading to a 14% surge in CRO coin price. This upward move strengthens bullish momentum, potentially paving the way for further gains.
Crypto.com and TMTG have partnered with Yorkville America Digital to introduce ETFs. These funds are expected to include digital assets alongside securities with a ‘Made in America’ focus. The ETFs will span diverse industries, including energy, potentially broadening investor interest.
The fund will be launched through Trump’s Truth.Fi, a decentralized finance brand. It will be accessible via Crypto.com-linked Foris Capital, expanding its reach to investors. Additionally, the report reveals that the fund is expected to go live later this year.
At press time, CRO coin price was trading near $0.09356. Also, the token had registered a price surge of over 14% in the past 24 hours. Investors and traders have shown strong interest in the asset, leading to significant participation.
Data reveals that CRO’s trading volume during the same period jumped by 330% compared to the previous day. This jump appears to be a bullish sign for CRO holders.
CRO Technical Analysis and Upcoming Levels
Technical analysis indicates a strong bullish outlook for CRO coin price. The asset shows upward momentum and will likely continue rising in the coming days.
The daily chart reveals that CRO has been moving in an uptrend, consistently finding support from an ascending trendline.
Furthermore, the recent surge in CRO price has broken out from the neckline of a bullish double-bottom price action pattern. If the token stays above $0.090, it could trigger a strong rally. This momentum might push the asset up 25%, potentially reaching $0.115 in the coming days.
However, the CRO coin price prediction will turn bearish only if it fails to hold above the key level of $0.09. Despite a substantial price increase in the last 24 hours, CRO was still below the 200 EMA on the daily chart.
This suggests that the asset remains in a bearish trend, struggling to gain sustained bullish strength. Weak momentum could limit further upside movement unless buyers step in aggressively.
Bullish On-Chain Metrics
Given the current market sentiment, traders and investors are strongly leaning toward the bullish side, according to on-chain analytics firm Coinglass.
Coinglass’s liquidation map shows traders were over-leveraged at $0.0828, a key support level. On the upper side, heavy leverage appeared at $0.0968, marking a strong resistance zone.
Traders have accumulated $1.39 million in long positions near the support level, signaling strong buying interest. Meanwhile, $476.56K in short positions near resistance suggests cautious selling pressure.
The current liquidation levels suggest bulls are in control, reinforcing CRO’s upside momentum. Strong long positions near support indicate confidence among buyers, which could help sustain further gains.
Coinglass’s spot inflow/outflow data reveals that exchanges have been experiencing a continuous outflow of CRO coins. This indicates potential accumulation, which could lead to buying pressure and further upside movement.