CRO, the native token of Cronos, rallied sharply on March 28 following the announcement that the U.S. Securities and Exchange Commission (SEC) had officially concluded its investigation into Crypto.com. The token surged by as much as 17%, jumping from $0.097 to $0.114, before cooling to around $0.1064 amid broader market volatility.
Regulatory Clarity Fuels a Relief Rally
The rally came after Crypto.com revealed that the SEC had formally dropped its probe into the exchange, a development that sparked renewed investor confidence in the platform and its ecosystem. Market cap climbed to $2.94 billion, and daily trading volume rose by 71% to $138 million, signaling heightened interest and activity around CRO.
The positive momentum was further amplified by reports that Trump Media, the parent company of Truth Social, is partnering with Crypto.com to launch three exchange-traded products under the Truth.Fi brand. The partnership suggests growing institutional alignment for the exchange.
Signs of Accumulation and Technical Breakout
On-chain data also pointed to increased accumulation, with a notable rise in the number of large-holder wallets over the past 24 hours—a potential sign of whale interest in CRO. Social sentiment has turned positive, and CRO’s funding rate, which dipped to -0.3006% on March 25, has rebounded to -0.003%, hinting at improving market sentiment.
From a technical perspective, CRO has broken out of a four-month descending channel, typically seen as a bullish reversal pattern. It also formed a bull pennant, a continuation pattern that often follows a strong price rally.
Indicators such as the Aroon Up (78.57%) and RSI (67) support a bullish bias, suggesting more upside potential. A confirmed breakout from the pennant with strong volume could pave the way for a test of the $0.12 psychological resistance, and potentially a move toward its yearly high of $0.165.
Market Headwinds Could Limit Short-Term Upside
Despite the bullish technicals, CRO’s ability to sustain momentum may depend on broader market conditions, which have turned bearish following a wave of macroeconomic concerns. President Donald Trump’s recent announcement of higher auto tariffs has weighed on investor confidence, sparking fears of inflation and economic slowdown.
As a result, Bitcoin (BTC) has dropped 2.9% in the last 24 hours, slipping below $85,000, while the total cryptocurrency market capitalization has declined nearly 5%, down to $2.87 trillion.
Outlook
While CRO’s rally shows encouraging signs of recovery and investor confidence, its next move will depend heavily on how global macro conditions evolve. Regulatory clarity has provided a short-term boost—but in the current climate, sentiment-driven corrections remain a risk.
If momentum holds and external market pressures ease, CRO could be positioned for a breakout that reclaims its earlier highs.
