TRUMP Memecoin Stages a Comeback as Market Shows Signs of Recovery
- Despite a prolonged downtrend, TRUMP has gained nearly 11% in the past week, showing signs of recovery.
- The TD Sequential indicator suggests a potential rebound, but liquidity concerns could limit further gains.
- A break above the $19.60 resistance level may push TRUMP toward $25, but sustained momentum remains uncertain.
The Official Trump (TRUMP) memecoin, which stunned the crypto world by reaching a $75 billion market cap in under 48 hours post-launch, has since faced a steep decline. During the weekend before Donald Trumps inauguration, TRUMPs price momentarily surged to $75. However, the excitement was short-lived as the tokens market cap has now plummeted below $4 billion, reflecting a staggering 77% loss in value.
Despite its prolonged 30-day downtrend, TRUMP is beginning to show signs of recovery. Over the past week, the token has gained nearly 11%, sparking renewed interest among traders. However, liquidity concerns persist, making it difficult for the memecoin to sustain upward momentum.
With political narratives cooling, the key question remains: Can TRUMP mount a full-fledged comeback, or is the recent uptick merely a temporary relief rally?
Technical Indicators Flash Buy Signal For $TRUMP
Crypto market expert Ali Martinez has pointed out that TRUMP could be gearing up for a rebound. According to the TD Sequential indicator, a buy signal has emerged on the 4-hour chart, suggesting a potential trend reversal.
At the time of writing, the Official Trump (TRUMP) price stands at $16.82, with a 24-hour trading volume of $1.81 billion. Its market cap sits at $3.36 billion, accounting for 0.11% of the total crypto market dominance. Over the past 24 hours, TRUMP has recorded a 5.32% price increase.
Key Resistance Levels to Watch
From a technical perspective, TRUMP may still have room to climb. If the token can break above the $19.60 resistance level, it could signal stronger bullish momentum, potentially pushing prices toward $25 in the coming days.
While the market remains uncertain, TRUMPs recent price action suggests that a reversal might be in play. However, sustaining this momentum will require increased liquidity and renewed investor confidence. The next few days will be crucial in determining whether TRUMP can reclaim its former glory or continue its downward trajectory.
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Read more: https://www.tronweekly.com/trump-stages-a-comeback-as-market-show-recovery/
Text source: TronWeekly
