Technical Analysis of TRUMP Coin | Market Update
The TRUMP coin is currently experiencing volatility after a strong upward wave that has driven it to achieve notable 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 where the price has previously bounced and is considered a potential accumulation zone.
Near Resistance: At $1.65, and breaking through it could open the door for further upward movement towards $1.90 and then $2.10.
50-Day Moving Average: The price is currently trading above it, supporting the bullish trend in the short term.
Relative Strength Index (RSI): Currently hovering around 60, indicating moderate bullish 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 stays above $1.65, we might 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.
