The TRUMP coin price is on the rise, attracting over 11% gains in the past 24 hours regardless of the rising bearish influence. The token has been attracting millions of new buyers, as 1 in 7 Americans have reportedly invested in either TRUMP or MELANIA. Interestingly, 42% of them are first-time crypto investors. Now that Trump’s team has reportedly liquidated most of their TRUMP holding and exhausted the maximum of the selling pressure, is there any chance of a consistent ascending trend after a strong rebound?
In a recent update, President Trump announced a $500 billion investment in AI and acknowledged the successful issuance of a TRUMP meme. This led to institutional applications for a spot TRUMP ETF, which may further lead to a potential breakout. The TRUMP price now aims for a 100% rise, but the question arises whether the rise is sustainable and reliable or will just be another bull trap.
The short-term price chart of TRUMP suggests the token is facing an extreme volume squeeze, which has compelled the price to maintain a horizontal trade. This squeeze usually results in a massive influx of liquidity as the trade remains within the decisive symmetrical triangle. Regardless of the recent price action that elevated the levels beyond $75, the MACD remained within the negative range. Meanwhile, the levels have just flipped to the average zone, suggesting the strengthening dynamics of the token.
On the other hand, the stochastic RSI has displayed a rebound and entered within the bullish range, hinting towards a continued ascending trend. The price is constantly trying to breach the resistance at $43.65 constantly which could push it further above $50. Meanwhile, the base between $36.84 and $37.63 may offer strong support in case of a pullback. Regardless of the numerous claims, the OFFICIAL TRUMP (TRUMP) price remains poised for a quick rebound above $50. However, the sustainability above the range may depend on the volume and the trader’s confidence in the token.
