TRUMP Price Surges by 10% as Market Cap Nears $6 Billion
/Article


TRUMP's price has seen a 10% increase in the last 24 hours while remaining 20% lower compared to the previous week, solidifying its status as one of the most talked-about meme coins. Its market cap currently stands at $5.9 billion, a significant drop from its peak of nearly $15 billion back on January 19.

Key technical indicators such as RSI and CMF are pointing towards stabilization, with momentum shifting towards a neutral zone as buyer interest grows. The levels of key resistance and support will be crucial in determining whether TRUMP can recover its upward momentum or face further declines.

The RSI for TRUMP is sitting at a neutral 50, indicating a shift towards more balanced momentum after a period of bearish pressure. This increase reflects a better equilibrium between buying and selling activity, potentially signaling a stabilization in its price movements.

On the other hand, the CMF for TRUMP remains in negative territory but is showing a fast rise, moving from -0.37 to -0.08 in just two days. This improvement suggests a decrease in selling pressure and hints at an increase in capital inflows, though outflows still marginally exceed inflows.

Despite facing a fundamental resistance at $30.33, breaking this level could open the door for a test of $45.20, solidifying TRUMP's position as the third-largest meme coin after SHIB and DOGE. A resurgence in momentum may see TRUMP reaching levels of $64.50 and possibly even $71.80, offering bullish prospects.

However, a potential downtrend could see TRUMP's price dropping to test the $15.43 support level. Failing to hold this critical support may lead to further declines, adding bearish pressure on the token's price and suggesting a deeper correction.

In summary, TRUMP's price movements seem to be in a delicate equilibrium with indications of both stabilization and potential for further price swings. Stakeholders will be closely watching the key resistance and support levels to gauge the coin's future trajectory in the volatile crypto market.

Leave a Reply