TRUMP Meme Coin Surges 7% Following Donald Trump’s Endorsement
The $TRUMP meme coin has gained attention after a promotional post by US President Donald Trump, leading to a 7% price increase. Key points include:
- Trump referred to $TRUMP as "the Greatest of them all" on Truth Social.
- Despite the price rise, $TRUMP is below the 20-day Exponential Moving Average (EMA).
- Launched on January 18, $TRUMP reached a market cap over $30 billion but has fallen 86% from its all-time high.
- Current price is around $12, facing resistance at $12.50 and $11.67 EMA.
- A breakout from a falling wedge pattern suggests a target of $17, indicating a potential 40% gain.
- Relative Strength Index (RSI) at 57.95 indicates neutral to bullish momentum, while Bollinger Bands show overbought conditions.
- Reclaiming the 20-day EMA is crucial for sustaining upward momentum.
