On July 24, Justin Sun, founder of the TRON blockchain, rang the Nasdaq Opening Bell in New York to celebrate the public debut of TRON Inc., which recently underwent a reverse merger with SRM Entertainment.
TRON Inc.'s Nasdaq Debut
Justin Sun rang the Nasdaq Opening Bell in Times Square to mark the official debut of TRON Inc., following a reverse merger with SRM Entertainment, a Nasdaq-listed company known for supplying merchandise to global theme parks. Following the merger, the company rebranded to TRON Inc. and now trades under the ticker symbol 'TRON'.
Changes in TRX Price
Recently, TRX attempted to break out from the ascending channel it has been in since March, reaching an intraday high around $0.34 before quickly pulling back. The price is currently hovering around $0.31, while the 20-day EMA has served as support after the recent decline from the $0.34 peak.
TRX Growth Prospects
With the price of TRX remaining in the upper part of the channel, there are chances for another breakout attempt. Support between $0.30 and $0.28, established by the EMA and channel midpoint, may provide a base for further growth. A confirmed close above $0.34 could validate a new leg higher, targeting around the psychological $0.40 mark.
The public debut of TRON Inc. and the current fluctuations in TRX price highlight the dynamics and potential for further growth of the project in the cryptocurrency market.
