On August 5, the performance of Cronos (CRO) aligned with Bitcoin and other altcoins, moving in a narrow range at the price of $0.1347, but technical and fundamental analysis indicate a potential upward wave very soon 🔥

---

📈 Quick summary:

✅ Bullish pennant pattern is forming

✅ A golden cross has formed between the 50 and 200 day averages

✅ Stablecoin Supply on the Cronos network rises to a record level

✅ Significant increase in trading volumes on decentralized exchanges (DEXs)

✅ The possibility of approval for a CRO ETF before the end of the year

---

🔍 Growth of the DeFi environment on the Cronos network:

🔹 According to DeFi Llama:

The supply of stablecoins on the network reached a historic level exceeding $168 million, compared to only $18 million at the beginning of the year

Most of this liquidity comes from USDC, which has risen by +7% over 30 days

Orby USD ranked second with over $13.5 million in assets

🔹 Decentralized protocols such as:

VVS Finance – Tectonic – Orby Network – Veno Finance

Contributed to raising total value locked (TVL) to $710 million – the highest since January!

🔹 DEXs on Cronos recorded a trading volume of $142 million in July compared to $76 million in June – an increase of nearly 87%!

---

📰 Supporting news for CRO price:

🔸 Trump Media filed to launch an ETF in collaboration with Crypto.com, including currencies such as:

Bitcoin, Solana, Cronos, XRP

🔸 Canary Capital also filed for a CRO ETF, expected to be approved before the end of 2025 – which could significantly increase demand for the currency.

---

🔧 Technical analysis of CRO price:

📉 The price recently rebounded after forming a double bottom pattern at $0.07790, with a clear breakout of the neck line at $0.1150.

📊 A golden cross is currently forming between the 50 and 200 day EMAs

📊 There is also a bullish pennant pattern on the daily chart – indicating a potential price breakout soon.

🎯 First target: $0.1498 – annual high

🎯 Next psychological target: $0.200

---

🧠 Summary:

The Cronos project is witnessing significant growth in its core uses (DeFi + DEX + Stablecoins), coinciding with the formation of strong technical patterns on the chart.

Any breakout above the $0.1498 area could trigger a new upward wave 🔺

---

💬 What do you think?

Do you think CRO is really preparing for a significant price breakout?

Are you betting on ETF approval for a currency like Cronos? 👇

📌 Source: TradingView