The $TRUMP meme coin, associated with President Donald Trump, has experienced notable volatility since its launch. Currently priced at approximately $10.82, the token has seen a decline of about 6% from its recent peak of $11.90.
š Recent Pullback
Following its recent high near $11.90, $TRUMP has retraced approximately 10%, indicating selling pressure after a speculative peak. This pullback aligns with broader market trends and investor sentiment.
š» Key Support Levels
Immediate Support: Around $10.50, a psychological level and consolidation range observed over the past 24ā72 hours.
Strong Support: Between $9.90 and $10.00, an area where the token has bounced several times in the last week.
Critical Support: Approximately $9.20ā$9.30, serving as a base before previous rises and aligning with the 50 EMA on the weekly chart.
š¼ Resistance Levels
Short-Term Resistance: Around $11.20, coinciding with the 20 EMA on the daily chart.
Main Resistance: The recent high at $11.90.
A breakout above $12.00 with significant volume could propel the token towards $13.00ā$14.00.
ā ļø Market Dynamics
The $TRUMP token's value is heavily influenced by speculative trading and sentiment surrounding President Trump's activities. Recent reports indicate that the unlocking of 90 million $TRUMP tokens could potentially add $93 million to Trump's fortune, increasing the circulating supply by 45%. Business InsiderNew York Post
ā Outlook
While short-term volatility is expected, monitoring key support and resistance levels will be crucial for traders. A confirmed breakout above $12.00 could signal a bullish trend, whereas sustained trading below $9.20 may indicate further downside risk.
Hashtags:
#TRUMP #MemeCoin #CryptoAnalysis #SupportResistance #MarketTrends #CryptoTrading
