- So, despite the market throwing a tantrum, TRUMP might just be gearing up for a long-term price party! 🎉
- Technical analysis is waving a bullish flag, and if we can just nudge past $11.50, we might be off to the races toward $17.95! 🏇
Official Trump’s [TRUMP] is like that friend who shows up to the party despite the rain—surging in trading volume even when the crypto market is having a meltdown. 🌧️
TRUMP has skyrocketed by 70.74% in trading volume and is currently strutting its stuff at $11.33 according to CoinMarketCap. With the market feeling a bit bearish, traders are left wondering if TRUMP’s breakout could kickstart a fabulous uptrend. 🤔
TRUMP’s breakout on the chart
After a prolonged sulk in bearish territory, TRUMP decided to bounce off the $10.23-$10.50 demand zone, hinting at a potential reversal. Buyers are trying to “buy the dip” like it’s a clearance sale, while our memecoin friend keeps testing its descending resistance trendline like a cat on a hot tin roof. 🐱👤
We’ve seen a breakout above the $11 key resistance level, which is like a light bulb moment for market dynamics. If TRUMP can confirm a breakout above $11.50, we could be looking at a rally toward the $13.01-$14.81 resistance zone in the short term. Fingers crossed! 🤞
Depending on how the market feels and if buyers keep the pressure on, we might even aim for $17.95. But beware, if we get rejected at this level, it could mean a retest of the $11 support above its falling wedge. Yikes! 😱
A breakdown below $11 support might just send TRUMP back to the $10.50 demand zone, which is like a sad trip down memory lane. 😢
Are the bulls in charge now?
Peeking at the technical indicators,
TRUMP’s oscillators and MACD (12,26) are flashing ‘buy’ like a neon sign, indicating a trend reversal and a short-term bullish vibe. As of now, the 24-hour Relative Strength Index (RSI) is at 35 and has climbed to 41 in the 4-hour timeframe. Cryptowaves data is backing this trend like a loyal friend. 🥳
TRUMP’s Long-Short Ratio is sitting pretty at 2.20 and is increasing in lower timeframes, showing that buying pressure is heating up. The memecoin has bounced back from a key demand zone, reinforcing its bullish trajectory. Go, TRUMP, go! 🚀
A look into the on-chain insights
As of now, the memecoin’s Open Interest (OI) Weighted Funding Rate has turned positive in the last 24 hours, according to Coinglass data. This is like a breath of fresh air, suggesting a trend reversal and renewed optimism as traders are ‘buying the dip’ amidst the market chaos, reflected by that impressive 70.74% surge in trading volume. 🎈
Will TRUMP’s bulls survive the bleeding market?
TRUMP might just be gearing up for a long-term bull rally after bouncing back from a key demand zone. With an RSI of 35, our memecoin looks a bit oversold, which could mean a golden opportunity for buyers. 💸
However, the ongoing bearish pressure in the crypto market could lead to some mid-term price rollercoasters. Traders should keep a close eye on TRUMP’s breakout signals and key levels for clearer insights. 🎢
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2025-03-11 10:05