On 4-hour charts, TRUMP meme coin has taken off after a strong run through recent sessions. Currently, the TRUMP/USDT pair trades at $12.77 and is down by 1.61% in the last 24 hours.
As technical indicators show continued momentum, the token attracted bullish sentiment. The following sessions will show if TRUMP can continue to rally or is headed for near-term buyer resistance.
TRUMP’s 4-hr chart price action is relatively straightforward and consistent regarding an uptrend in a rising channel pattern. The token started its rally from the $8.50 mark range and has been consolidating within higher highs and lows.
Fresh buying is reinforcing the bullish structure following every slight pullback. The price initially tested the band channel briefly, but it has since returned to struggle, a behavior we often observe whilst traders take profits after fast moves.
The path of least resistance remains to the upside until TRUMP meme coin closes above the lower support line at about $14.00.It is also valuable to know the strength of TRUMP meme coin’s current trend with the help of the Relative Strength Index (RSI). When the CFA was written, the RSI was at 65.51, in which the asset is still in bullish territory, but is no longer extremely overbought.
The rally was earlier, in which the RSI crossed 70 and indicated an overbought condition frequently witnessed before a minor correction or consolidation.
TRUMP has aged (digesting) its gain healthily into 65 without dipping below 50. Buyers should retain market control in RSI if it remains in the neutral zone.
The Awesome Oscillator (AO) also confirms the momentum as it stays above the zero line. A slight reduction in the size of the green bars has not been able to contain the positive momentum on the AO, though.
A bit of a momentum loss could indicate a cooling-down period, but it is not a clear indication of a bearish reversal. As long as the AO remains above zero, the thesis shows that TRUMP meme coin is still on an uptrend. If the oscillator rises again, it will strengthen the buyer’s hand. From another perspective, the move below zero indicates a deeper pullback.
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