Tron plans to go public in the U.S., yet TRX price stays range-bound | Credit: Derek Fenech
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Key Takeaways
TRX remains stuck below resistance, despite sentiment surrounding Tron’s plans to go public in the U.S
The plan includes a $210 million TRX-backed venture to mirror MicroStrategy’s Bitcoin strategy.
Data shows large transactions jumping from 147 to over 1,000, but it has not yet increased the price.
Despite the bullish sentiment sparked by Tron’s plans to go public in the U.S., its native cryptocurrency, TRX, remains locked below resistance. Within the last 24 hours, the TRX coin price has remained range-bound.
As of this writing, the market value of the altcoin stands at $0.28. While trading volume has soared, the news about a potential Initial Public Offering (IPO) might not be enough.
That said, here is what could be next for TRX as time goes on.
TRX Fails to React to Potential IPO News
As of this writing, the TRX coin price is down 37% from its all-time high. However, on Monday, June 16, the Financial Times revealed that Tron’s parent company plans to go public in the U.S.
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The decision reportedly comes a month after the U.S. SEC paused its investigation into Tron founder Justin Sun, giving the move the green light. It also mentioned that the project aims to adopt Strategy’s Bitcoin investment model.
“The new venture will buy and hold the Tron token, mimicking the tactics of Strategy, formerly MicroStrategy, which founder Michael Saylor has turned into a leveraged bitcoin vehicle,” It stated.
While the deal reportedly involves two of Donald Trump’s sons and a $210 million TRX injection, the altcoin has struggled to capitalize on the momentum.
The daily chart shows that Tron’s price has been consolidating between $0.21 and $0.29 since December. Amid this move, the current Chaikin Money Flow (CMF) has dropped below the zero signal line.
This drop indicates a lack of demand for TRX. If sustained, TRX’s price might continue trading sideways or experience a drop below the $0.25 support.
Despite the bearish outlook, on-chain data from IntoTheBlock reveals a notable increase in large TRX transactions. On Sunday, June 14, were 147 transactions valued at $100,000 or more.
Today, that figure has surged past 1,000, suggesting that Tron’s plan to go public has caught the attention of crypto whales. However, it doesn’t appear that their activity is strong enough to push the TRX coin price higher.
On the 4-hour chart, CCN observed that TRX has formed a death cross — a bearish technical pattern that occurs when a longer-term Exponential Moving Average (EMA) crosses above a shorter-term one.
In this case, the 50 EMA (yellow) has crossed above the 20 EMA (blue), signaling a potential downtrend. If this bearish setup holds, TRX’s price could fall below the $0.27 support level.
A confirmed breakdown might lead to a drop toward $0.25 or even lower.
However, if momentum shifts and the setup transitions into a golden cross — where the 20 EMA rises above the 50 EMA — bullish sentiment may return. In that scenario, TRX could reclaim the $0.30 level.
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.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
