TRUMP coin has experienced a resurgence in price, seeing a 1.26% increase to reach $8.48. The market cap of the token now stands at $1.7 billion, with daily trading volume spiking to $1.03 billion, a significant rise of 624.29%. This sudden surge in activity can be attributed to recent news surrounding Trump’s anniversary celebration, which has reignited interest within the community.
Despite this recovery, TRUMP coin is still facing resistance at key levels. The token has seen a 0.42% decrease over the past week and a 5.33% drop in gains over the last 60 days. This indicates the need for a stronger bullish confirmation before a sustained rally can occur. To gain a better understanding of the token’s potential next move, let’s delve into a short-term Trump coin price prediction.
TRUMP token has found support near the 7-day SMA at $8.42, with buyers stepping in to defend this level. On the flip side, the 30-day EMA near $8.88 is acting as a major hurdle, along with the 61.8% Fibonacci retracement. Additionally, $9.13 marks another resistance level at the 50% Fibonacci level.
The RSI has rebounded to 60.58 from oversold conditions, indicating a decrease in selling pressure. A decisive close above the pivot point at $8.63 could signal a short-term bullish trend, potentially leading to further gains towards $8.88 and beyond. However, traders will be looking for trading volume to exceed $1 billion per day to validate this upward movement.
If the TRUMP crypto price fails to break above $8.88, it could retreat to support levels around $8.27. A more significant correction may test the $8.21 zone, which aligns with the lower Bollinger Band. Currently, the price bounce appears to be more of a short-term exhaustion rather than a confirmed reversal.
In conclusion, the TRUMP coin’s recent price surge can be attributed to anniversary-driven sentiment and increased community engagement. While the token faces resistance at key levels, a break above $8.63 with strong volume could signal a bullish breakout. Traders should closely monitor support and resistance levels to gauge the token’s future price action.
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