Key Takeaways
- CRO experiences strong bullish price action, with an over 30% rally following its strategic partnership with Trump Media.
- BTC struggles as Cronos token shines, gaining a strong bullish prediction of $1 price target.
- Cronos faces resistance around $0.23 as the price attempts to sustain its bullish momentum.
Cryptocurrency exchange tokens have been making strong waves in recent weeks. Making headlines in the media is Cronos, the Crypto.com native token, which follows the likes of OKB and BNB in a strong price rally following headlines from Trump Media.
The Cronos token has seen a price rally of over 30% in the last few hours, signifying strong market strength. Bulls are looking to capitalize on recent bullish price action to the upside, as the price provides a strong market rally.
Following such strong news in the media, Crypto.com, on their official X account (formerly Twitter), has spoken of this bullish news and plans to support traders and investors in gaining better exposure to the crypto market.
Trump Media Bets on CRO Token
The Crypto.com team, on its official X account, has confirmed a strategic partnership with Trump Media to use the Cronos token as the official token for the Truth Media platform, leading to a strategic purchase of over $105 million in CRO tokens being added to its balance sheet.
This move solidifies institutional plans to hold a stake in the future of digital finance by establishing digital asset treasuries.
Following the news, Cronos tokens saw a spike rally to the upside, as institutional players and traders looked for opportunities to hold Cronos tokens for the long run, based on the current bullish market sentiment.
Additionally, Trump Media continues to expand in the crypto space as it aims to establish a presence in the blockchain industry through statements promoting better adoption of the crypto industry.
Cronos Token Faces Daily Resistance to the Upside
Source – CRO Daily Chart Analysis
Following a strong market rally, the Cronos price faces significant resistance on the daily timeframe, making it challenging to break above $0.23 to the upside.
A strong bullish breakout from this zone, followed by a close to form a support, could see the price resume a bullish rally to the upside.
The price of Cronos has the potential to rally towards $1, as it trades above $0.25, highlighting a strong bullish price trend.
Traders and investors would pay close watch on the current price action around its key resistance zone.
FAQs
Will Cronos Reach $1?
There is a strong potential for Cronos to hit $1 if the price breaks out above $0.25 in the coming days.
How Much is 1 Cronos Worth?
The price of one Cronos is $0.21.
Is Cronos a Good Buy?
Yes, the price of Cronos has shown strong bullish price action.
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