The cryptocurrencies TRON (TRX) and Trump Coin (TRUMP) saw a notable increase in prices ahead of a private dinner meeting between TRON founder "Justin Sun" and former U.S. President Donald Trump, amid a general recovery in the cryptocurrency market (such as Bitcoin rising above $111,000).
Key points:
1. Rise in TRON Price:
- The price of TRX reached $0.2770 (the highest level since December 2023), supported by positive expectations with its founder's participation in the dinner.
- Technical analysis indicates the possibility of continued upward movement if the price exceeds $0.3, while it may retract if it falls below $0.25.
2. Rise of Trump Coin:
- The price of TRUMP jumped by 112% from its lowest point this year, reaching $15.28, driven by news of the dinner and increased demand.
- The price needs to overcome resistance at $16.43 to confirm the upward trend, with warnings of a potential pullback due to "selling the news" after the event.
3. Potential Risks:
- The market may witness a correction after the event according to the theory of "Buy the rumor, sell the news", especially with some investors starting to sell their holdings in advance.
- Part of the optimism is linked to Justin Sun's investments in the Trump Coin project and the TRON coin itself.
Summary:
The rise of both cryptocurrencies reflects investors' optimism about the anticipated meeting, but volatility may continue depending on event developments and market reactions. Traders are advised to monitor the mentioned resistance and support levels to avoid risks.
