Trump Coin Faces Resistance After Climactic Rally: Is a Full Retrace on the Horizon?
The TRUMP memecoin price climbed by 15% but hit a snag at a crucial resistance point. After a recent surge and aggressive impulsive rally, Trump Coin experienced a dramatic rally but signs suggest it might have peaked. Is the rally over? Technical indicators point to a possible reversal as buyers lose momentum.
Technical Analysis: Key Levels to Watch
Analysis shows that the support at $12.52 could make or mar the token's next move. The rally is now more closely aligned with the projected breakout target of a descending channel forming since early March, topping out at the $13.70 resistance. Technical confluences suggest a bearish retest is underway. Immediate Support lies between $16.26–$15.86 (0.5–0.618 Fibonacci retracement).
Will Trump Coin Hold Key Support?
TRUMP meme coin holds key $13 support after consolidation, hinting at fresh upward momentum. Entry zone between $12.60–$12.90, with resistance at $13.37 and $14.20. Breaching $34 resistance could push TRUMP to $45, but a 166% rally to $79 is unlikely without strong market cues.
Potential Targets and Resistance
Key Resistance: $19.64 (prior horizontal resistance). Major Target: $21.47–$22.79 (wave (iii) and (v) projections). The TRUMP token, which recently hit an all-time high, experienced a powerful upward surge, but current technical conditions show early signs that the rally may have reached an exhaustion point. Signs now point to a potential local top.
Cup and Handle Formation: Bullish or Bearish?
Trump Coin has formed a Cup and Handle pattern, indicating a potential breakout. However, Trump Coin price is $10.54, down 5.8% in 24 hours, with a market cap of $480 million. The question remains: will the pattern lead to renewed upward momentum or a deeper correction?