Crypto.com’s recent strategic move to expand its presence in Europe has fueled a significant price rally for their native token, Cronos (CRO). The company bolstered its team by appointing Louis Hawila, former Coinbase executive, as Vice President of Capital Markets for Europe. This appointment is aimed at strengthening the company’s institutional market position within the European Union. While CRO’s price has surged in recent months with a 55.63% monthly gain, it currently remains down 36.04% from its all-time high of $0.9889, highlighting the potential for further growth.
Technical analysis reveals resistance for CRO between $0.165 and $0.18. Support levels are around $0.15 and $0.13, with analysts closely watching the asset’s ability to surpass the $0.165 mark to test the $0.18 level. A break below $0.15 could lead to a potential retest of the lower support levels in the range of $0.13 and $0.14.
The appointment of Hawila, who brings a wealth of experience from Coinbase’s regulatory compliance team and traditional finance companies like Intraclear and Shares, signals Crypto.com’s commitment to navigating the complexities of regulated financial markets. This move aligns with recent price movements, driven by speculation surrounding ETF products that could potentially include CRO.
Source: CRO/Tradingview