Trump official stock (TRUMP) has risen 8.37% in the past 24 hours, and its market structure has turned bullish within a 2-hour timeframe after breaking the low of $13.64 on March 1.
Technical indicators show a strengthening bullish sentiment in the short term. If it can hold the key Fibonacci support level in the next day or two, TRUMP may gain more profits.
Market performance: Strengthening bullish sentiment in the short term
TRUMP rose to $17.75 on Sunday, with an increase in trading volume. The last time a similar trading volume occurred in a two-hour trading session was in mid-February, when the TRUMP stock price fell after reaching $24.58. The current market structure may not lead to a lasting upward trend, but traders still have opportunities to profit from it.
Technical indicators: Buying pressure stabilized
Technical indicators for the selected timeframe show that with the rise of OBV (On-Balance Volume), buying pressure is stabilized, while the RSI (Relative Strength Index) reading is 54, indicating upward momentum. This suggests that TRUMP may continue to rise in the short term.
Support levels: $14.67 and $13.84
If TRUMP falls below either of the above prices, it may provide an opportunity to short, and it warns that bulls have lost strength.
If it falls below $14.4, the next bearish targets are $13.3 and $12.5.
Resistance level: $18
$18 area represents a previously significant lower high in the 4-hour timeframe, which will be very important in the coming days.
