Technical Analysis of TRUMP Coin | Market Update
The TRUMP coin is currently experiencing volatility after a strong upward wave that drove it to achieve noticeable gains in the past period, fueled by political news and the approaching U.S. election season. Here’s a technical look at the price movement:
Technical Levels:
Major Support: at $1.20, which is a level the price has previously bounced from and is considered a potential accumulation area.
Nearby Resistance: at $1.65, and breaking this level could open the way for further upward movement towards $1.90 then $2.10.
50-Day Moving Average: the price is currently trading above this, supporting the upward trend in the short term.
Relative Strength Index (RSI): currently ranging around 60, indicating moderate upward momentum without being overbought yet.
Overall Outlook:
As long as the price maintains support at $1.20, the positive outlook remains, but any strong break of this level could push the coin to test lower support at $0.95. If it holds above $1.65, we may see a new buying wave.
Tips for Traders:
Watch the trading volume with any upcoming breakout, and don’t forget to set stop-loss points, especially in a market characterized by volatility like this.
