TRUMP has increased by 15% in the past week, following a period of significant decline in February and March.
Despite recording a recovery, this altcoin continues to face market volatility. However, improving macroeconomic conditions are creating a more favorable environment for TRUMP, potentially boosting its upward momentum.
TRUMP investors are optimistic, but only for a short time
The ADX (Average Directional Index) indicates that the optimism surrounding TRUMP has not lost strength, despite recent volatility.
Market participants are reacting positively to developments in the economy, including the US signing a trade agreement with the UK and engaging in negotiations with China regarding tariffs. These diplomatic moves have contributed to the price increase of this altcoin.
Optimism surrounding the US government's trade efforts is benefiting TRUMP holders. As overall market sentiment remains positive due to these geopolitical events, the token's price has grown correspondingly.
TRUMP ADX | Source: TradingView
The overall macro momentum of TRUMP is influenced by changes in global sentiment. The weighted sentiment index, which tracks market perception, spiked after the US-UK trade agreement was announced. Holders also showed excitement about this news, but this index quickly declined thereafter.
The initial excitement subsiding suggests that the price volatility of TRUMP may not be entirely driven by long-term investor confidence. Depending on short-term political developments could pose risks to this asset, especially if market sentiment changes in the future.
Weighted sentiment of TRUMP | Source: Santiment
TRUMP's price depends on news
TRUMP is currently trading around $14.18, recording a 15% increase in the past week. This altcoin is approaching a significant resistance level at $14.53, with the next target being $17.14.
If it surpasses this resistance level, it could continue its growth trajectory, potentially breaking through additional barriers and continuing to recover after the recent downturn.
If the trade negotiations between the US and China are successful, it could positively impact President Trump's image, pushing the TRUMP price to $20.00. This would signal a stronger market outlook, creating positive momentum and boosting investor confidence in this altcoin.
TRUMP Price Analysis | Source: TradingView
However, the growth outlook for the token could be invalidated if the price falls below the support level of $13.36. A drop to $12.18 or $10.29 would erase the entire recent uptrend, signaling a shift in sentiment and potentially triggering a consolidation phase.
US – China reaches preliminary agreement in Switzerland, Bitcoin surpasses $105,000, market surges
Is the altcoin season approaching? This is the signal that excites investors
Hyperliquid Trader James Wynn makes waves with profits of over $46 million from PEPE, TRUMP, and BTC
Vincent
Disclaimer: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making decisions. We are not responsible for your investment decisions.