TRUMP Breaks Above $11 Resistance – Can It Rally to $17.95?

The broader crypto market continues to struggle, but TRUMP has surged with a 70.74% increase in trading volume. Despite ongoing volatility, the memecoin has shown strength, attracting traders who see potential in its latest breakout. Many wonder if this surge signals the beginning of a bullish rally or just another temporary price fluctuation.

TRUMP Breaks Resistance and Signals Bullish Strength

After weeks of bearish momentum, TRUMP bounced off the $10.23-$10.50 demand zone, signaling a potential reversal. Buyers quickly stepped in, pushing the price higher as it retested its descending resistance trendline multiple times. This buying activity led to a breakout above the critical $11 resistance level, shifting market sentiment in favor of the bulls. If TRUMP confirms a move above $11.50, the next target could be the $13.01-$14.81 resistance zone. Sustained momentum could even push it toward $17.95. However, if the price fails to hold above $11, a retest of the $10.50 demand zone may follow.

Technical Indicators Show a Potential Trend Reversal

Key technical indicators support the bullish outlook. The MACD (12,26) and oscillators have signaled a ‘buy,’ indicating rising momentum. TRUMP’s Relative Strength Index (RSI) stood at 35 on the daily chart and increased to 41 in the 4-hour timeframe. These levels suggest TRUMP was oversold and is now rebounding. Additionally, the Long-Short Ratio climbed to 2.20, reflecting heightened buying pressure. This data confirms traders’ growing confidence in TRUMP’s potential for further price gains.

On-Chain Insights Reveal Increased Investor Optimism

On-chain data further supports the bullish narrative. TRUMP’s Open Interest (OI) Weighted Funding Rate turned positive in the past 24 hours, showing renewed optimism. Traders are accumulating positions, betting on a stronger price recovery. This shift coincides with the massive 70.74% increase in trading volume, highlighting growing market interest. If these trends continue, TRUMP may solidify its position as a top-performing memecoin in the near term.

Can TRUMP’s Bulls Overcome Market Uncertainty?

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TRUMP has rebounded from a critical demand zone, and its RSI indicates oversold conditions, suggesting more room for upside. However, the broader crypto market remains under bearish pressure, which could impact TRUMP’s rally. If the memecoin maintains momentum and holds key support levels, it may continue its uptrend. Failure to sustain the breakout could lead to a retest of previous support levels, offering traders another potential entry point.

In conclusion, TRUMP’s recent surge in trading volume and breakout above resistance levels suggest a strong shift in market sentiment. With rising technical indicators, increasing buying pressure, and positive on-chain data, the memecoin appears poised for further gains. If TRUMP holds above $11.50, a move toward $13.01-$14.81 could follow, with $17.95 as a long-term target. However, if market conditions turn bearish, a drop back to $10.50 remains possible. Traders should monitor key resistance levels and breakout confirmations to determine the best opportunities. TRUMP’s performance in the coming days will reveal whether this rally is sustainable or just a temporary price surge.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.