In the last 24 hours, the price of TRUMP has surged by approximately 10%, pushing its market cap close to $4 billion once again. This spike, however, has caused TRUMP to slip from its third-place position among the top meme coins, now being overtaken by PEPE.
Even though the Relative Strength Index (RSI) has bounced back from oversold levels and there is an improvement in price action, the BBTrend remains significantly negative, indicating persistent bearish pressure on TRUMP. The meme coin is now facing a critical juncture – continued upward momentum could see it reclaim crucial resistance levels, while a resurgence in selling pressure might push it back towards lower support levels.
RSI for TRUMP is currently at 48.5, a notable increase from 27.8 just two days prior, after hitting a low of 19.8 four days ago. This rapid recovery suggests a resurgence in buying interest following the deeply oversold conditions experienced by TRUMP.
With the RSI hovering around 48.5, TRUMP's momentum seems to be shifting towards a more balanced state, although it has yet to enter bullish territory. The RSI, ranging from 0 to 100, reflects the speed and strength of price movements, highlighting potential overbought or oversold conditions. A value below 30 signifies oversold status, indicating a probable rebound, aligning with recent price movements.
Despite the improvement in RSI, TRUMP's BBTrend is lingering at -45.07, remaining in negative territory for nine consecutive days. While there has been a minor uptick from its previous level of -49.29, the overall negative trend persists, signaling the coin's ongoing struggle to regain robust positive momentum.
If TRUMP manages to sustain its current uptrend, it could target the resistance at $24.58, potentially leading to further price gains towards $30.47. This upward trajectory could propel TRUMP back to the third position among meme coins, surpassing PEPE.
Maintaining its momentum will be crucial for TRUMP as it seeks to breach key resistance levels and confirm a sustained uptrend amid the contrasting signals from the RSI and BBTrend indicators. The market's response at these critical levels will determine TRUMP's next moves, with a failure to break resistance potentially triggering a significant downturn necessitating support levels to hold firm for the coin's continued upward trajectory.