TRUMP Surges 11% as Bullish Momentum Builds
1min read Despite recent market volatility, the cryptocurrency TRUMP has exhibited signs of a potential long-term price uptrend. Technical analysis suggests a bullish reversal, with a move past $11.50 potentially triggering a rally toward $17.95. This development comes as TRUMP has experienced a significant surge in trading volume, despite the broader crypto market crash and price fluctuations. At the time of writing, TRUMP was trading at $11.33, with a notable increase in trading volume.
After a prolonged period of bearish momentum, TRUMP tested and bounced off the $10.23-$10.50 demand zone, signaling a potential reversal. Buyers have attempted to "buy the dip," with the memecoin retesting its descending resistance trendline multiple times. A breakout above the $11 key resistance level has occurred, indicating a shift in market dynamics. If TRUMP confirms a breakout above $11.50, it could rally toward the $13.01-$14.81 resistance zone in the short term. Depending on market momentum and sustained buying pressure, the rally may even aim for $17.95. However, rejection at this level could lead to a retest of $11 support above its falling wedge. A breakdown below $11 support might push TRUMP back toward the $10.50 demand zone.
Technical indicators for TRUMP show that its oscillators and MACD (12,26) signaled ‘buy,’ indicating a trend reversal and short-term bullish momentum. At the time of writing, the 24-hour Relative Strength Index (RSI) was at 35 and rose to 41 in the 4-hour timeframe. TRUMP’s Long-Short Ratio stood at 2.20 and increased in lower timeframes, reflecting heightened buying pressure. The memecoin rebounded from a key demand zone, reinforcing its bullish trajectory.
On-chain insights suggest that TRUMP’s Open Interest (OI) Weighted Funding Rate had turned positive in the past 24 hours. This indicates a trend reversal and renewed optimism as traders ‘bought the dip’ amid the market crash, as reflected by the significant increase in trading volume. TRUMP may be set for a long-term bull rally after rebounding from a key demand zone. With an RSI of 3 
