Quick Summary:
- TRUMP token increases by 13.28% in the recent 24 hours and is currently trading at approximately $14.55.
- The day-to-day trading volume escalates by 186% and reaches $1.72 billion.
- Market cap is $2.91 billion.
- The MACD crossover and the CMF at 0.28 show great bullish feeling.
- The RSI of 71.42 is suspecting overbought areas.
- Breakout rear-view mirror level is at 15, where a new rally could occur, as well as break out-barometers, a drop below 14.10 or lower may follow.
TRUMP Token Sees Increase in Momentum as Uncertainty Reigns within the Market
Crypto traders have not overlooked OFFICIAL TRUMP (TRUMP) as it increased by 13.28% in the previous 24 hours. The token trades around the US$14.55 mark at the time of writing and has performed with some indication of a breakout although with mixed signals on the rest of the crypto markets.
Bitcoin, which is the leader on the market, soon cooled down near 107.4K, but TRUMP appears to be taking its bullish turn.
TRUMP Chart
(The source is TradingView)
A Volatile Week With a Recovering End
In the last week, TRUMP has established a sequence of greater lows and highs which shows a sluggish bullish turnaround. At the beginning of the week, the token was trading at around $13 but in the meantime dropped to $12 where it regained the lost momentum.
Today alone TRUMP dropped as low as 12.74 only to climb up today to 14.86 which is also the intraday high. The continued rise beyond $15 may indicate the start of a more powerful growth.
TRUMP Chart
(Yahoo Finance)
Bullish Signals Flash Technical Indicators
There is a bright side to the technical side of things:
- The MACD has created a bullish crossover and this represents positive momentum.
- The Chaikin Money Flow (CMF) is 0.28 which indicates high levels of buying power.
- Bull Bear Powers are 1.87 meaning that the power of bulls is leading the show at the moment.
But one should beware — RSI of 71.42 puts TRUMP to the overbought position, so we can expect a short-term retracement.
What is Next in TRUMP?
Should TRUMP manage to pierce above the $15 level then traders may witness a new leg of upward movement. However, in case pressures to sell accumulate, it is probable to see a retracement to support of 14.10.
In the further bearish case scenario, the token may be forced back to the $13 price range, especially when the momentum cools off as the death cross forms in the chart.
Nonetheless, with its level of volume increasing and bullish signals at a green level, the investors are peeping to understand whether the TRUMP token will sustain its momentum.
Disclaimer: This paper is only an informational one and should not be regarded as guidance in finance. Conduct your own research where any investment decision is concerned.