The Cronos price has fallen by more than 60% since its cycle high in November 2024. The decline worsened in 2025, taking CRO to a long-term support area existing since the bullish trend started.
Recently, CRO showed resilience by preventing a breakdown and moving above a long-term descending resistance trend line. The key question now is if the Cronos price can sustain its breakout and regain some of its losses.
Cronos made the news this week after a proposal to reverse the burn of 70 billion tokens. The proposal aims to create a Cronos strategic reserve, bringing the total supply back to 100 billion.
The proposal also aims to connect institutional liquidity pools through the Cronos Exchange-Traded Fund (ETF). If approved, this will be done with a 5-year lockup followed by a linear monthly release in the next five years.
While there are 9 more days left to vote, it is expected that the proposal will be rejected because the turnout of 23.27% is lower than the quorum of 33.40%.As of the time of writing, the voting is 51.47% yes, 48.22% no and 0.31% veto.
Some positive Cronos news is that crypto.com CEO Kris Marszalek will attend the White House Crypto summit on March 7.
CRO Bounces at Support
The weekly time frame CRO chart shows that the price has traded above the $0.078 horizontal support area since November 2023. The CRO price has bounced at this support area several times, creating higher highs.
More recently, it reached the current cycle high of $0.235 in November but has fallen since, returning to the support area this week.
Relative to the price in November 2024, CRO has created a long-term double bottom pattern (green icons). The double bottom is a bullish pattern that often leads to trend reversals.
However, technical indicators are bearish. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are falling below their bullish thresholds at 50 and 0, respectively.
If a breakdown happens, the next long-term support area will be at $0.050.
CRO Price Breakout
While the weekly chart is bearish, the daily one offers hope for a bounce, since the CRO price broke out from a 90-day descending resistance trend line.
Furthermore, the wave count shows a completed five-wave downward movement (red) since the high, meaning an upward movement is likely.
Finally, the daily RSI and MACD have generated bullish divergences (orange), often preceding bullish trend reversals.
So, the most likely future outlook is the continuation of the upward movement toward the 0.382-0.5 Fibonacci retracement resistance area at $0.133 – $0.152.
Since the breakout follows a five-wave decline, the proposed upward movement will likely be a relief rally.
Alternatively, closing below the $0.078 support area will invalidate this bullish outlook. If that happens, the CRO price could fall to the next support at $0.050.
Relief Rally Incoming
Despite pushback against the Cronos Strategic Reserve proposal, it has reignited interest in CRO. This could intensify with the White House Crypto Summit on March 7.
The CRO price has broken out from a descending resistance trend line and could begin a relief rally toward $0.132 and $0.152.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
