TRUMP price prediction – Bullish reversal for the memecoin incoming?
The post TRUMP price prediction – Bullish reversal for the memecoin incoming? appeared on BitcoinEthereumNews.com.
TRUMP seemed to be testing key support at $23.88, with the RSI at 32.79 signaling oversold conditions Market sentiment was cautious as social volume declined and Open interest dropped by 4.54% Official Trump [TRUMP] may be on the verge of a rebound as the TD Sequential indicator flashed a buy signal on the daily chart. After a prolonged downtrend, this could mark the start of a potential recovery phase. If buying pressure increases, the price may attempt to reclaim key resistance levels. However, uncertainty remains as market conditions continue to fluctuate. Will this signal trigger a sustained bullish reversal in the coming days? An ongoing controversial debate The TRUMP token has sparked heated discussions in the crypto community, with some seeing it as a bullish catalyst and others warning of potential instability. On one hand, its launch demonstrated growing interest in political memecoins, which could attract new liquidity to the space. However, critics argue that it has drained capital from more reputable assets, leading to volatility across multiple markets. At press time, the altcoin was trading at $24.27, down 5.98% – A sign of mixed investor sentiment. TRUMP’s price action – Testing key support levels The memecoin’s price has been consolidating within a critical support zone at $23.88 – A level that could determine its next major move. If bulls manage to push it above $28.13, a surge towards $40 could follow, providing traders with renewed confidence. Additionally, the Relative Strength Index (RSI) was at 32.79, indicating that TRUMP may be nearing oversold territory. If the RSI rises above 37.51 in the short term, buying momentum could strengthen, improving the chances of a breakout. Source: TradingView Trump social volume and dominance – A fading hype? While TRUMP initially gained massive traction, recent data hinted at a decline in its social…
Filed under: News - @ February 1, 2025 11:17 pm