Michaël van de Poppe, a notable market veteran, identifies two regions on the TRUMP meme coin chart that have triggered price rebounds.The market analyst called attention to these areas in an analysis today, leveraging the 1-hour Official Trump (TRUMP) chart. Notably, the report comes two days after the meme coin launched, having increased by as much as 27,122% to currently trade at $51.6.For context, TRUMP's meteoric upsurge saw it skyrocket to a top price of $35, triggering a psychological resistance response at this level and a major pullback. The drop persisted until it found support at $21 and then recovered strongly, rising to a new peak of $79 on KCEX.The First Support RangeAccording to van de Poppe, amid its rapidly volatile performance in the past 48 hours, TRUMP has observed two price regions that guide its market performance. The market watcher noted that the first one is situated between the $57 and $52 price range.Notably, the earlier $79 top introduced resistance, with the asset's price collapsing in a second retracement round. This triggered the first rebound region. Notably, as TRUMP slipped into the $57 to $52 support range yesterday, its price immediately rebounded, rising sharply to the $73 price in the evening amid a 36% bounce.TRUMP 1h Chart | Michael van de PoppeNonetheless, the ensuing roadblock was too strong for buying pressure to surmount. As a result, another pullback occurred on the back of the launch of Melania Meme (MELANIA) by Trump's wife. TRUMP Respects the Second Support Level The MELANIA token sucked up liquidity from TRUMP, exacerbating the impact of the drop. This time, the pullback broke below the support at the $57 to $52 range, leading to steeper declines. This brought Michaël van de Poppe's second support region into play.For context, this second region lies between $46 and $40, presenting the last line of defense for the meme coin during bearish pressure. When the price dropped to this level, the bulls defended the region fervently, triggering a 68% rebound to $64 before the recovery efforts lost steam earlier today.According to van de Poppe, with the TRUMP meme coin currently consolidating between $45 and the lower ends of the $50 mark, the best thing for it right now would be to drop to $25 to $30 and then trade in a range within this region before recovering.This development could present an attractive region of entry for investors, bringing back buyers into the market for the next explosive run, especially as Donald Trump takes office today. At press time, TRUMP is down 11.8% today, according to CoinMarketCap, currently trading for $51.6 with a market cap of $10.32 billion.
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