TRUMP Price Surging Again: Will it Hit $10 This Week?
The TRUMP token bounces back impressively, yet it needs to overcome key resistances to confirm the bullish trend. Analyzing price action and crucial technical levels to monitor.
TRUMP Cryptocurrency Price Analysis
The TRUMP cryptocurrency is experiencing a rebound with a 1.26% increase compared to the previous day, reaching approximately $8.48. The market capitalization of the token now stands at $1.7 billion, while the daily trading volume has increased impressively by 624.29%. This significant surge in activity followed the latest Trump news regarding his birthday celebration, which sparked renewed interest within the community.
Despite this recovery, the memecoin’s price action remains under pressure due to key resistance levels. TRUMP is still down 0.42% over the past week and has lost 5.33% of its gains over the last 60 days – highlighting the need for stronger bullish confirmation before a sustainable uptrend can emerge.
Key Levels to Watch on the Memecoin
The TRUMP token has found support near its 7-day moving average at $8.42, with buyers stepping in to defend this level. To the upside, the 30-day moving average at approximately $8.88 acts as a major obstacle. This zone also corresponds to the 61.8% Fibonacci retracement level, while $9.13 marks another resistance at the 50% level.
The RSI indicator has climbed to 60.58 from oversold conditions, indicating that selling pressure has eased. A decisive close above the pivot point at $8.63 would be a short-term bullish signal, potentially opening the door to an extension toward $8.88 and beyond. However, traders will want to see trading volume exceeding $1 billion per day to validate this movement.
If the TRUMP cryptocurrency price fails to break above $8.88, it risks falling back toward support levels around $8.27. A deeper correction could test the $8.21 zone, which coincides with the lower Bollinger Band. For now, the rebound appears to be more the result of short-term exhaustion rather than a confirmed reversal.
Related topics:
Gaston Cuny
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
This article is for informational purposes only and should not be considered as investment advice. Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Go Further
See More →
Bitcoin
Bitcoin: Should you buy the dip or is a bear market coming?
Altcoins
Millionaire Patrick Bet-David buys XRP: Should you buy the dip?
Altcoins
Dogecoin analysis: Can DOGE bounce back or will it crash further?
Altcoins
Earn passive income on XRP: How to benefit from flare and morpho
Altcoins
XRP vs. Bitcoin: Why XRP could surge 50%?
