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Cryptocurrency News Articles
U.S. President Donald Trump will hold a dinner with the top 220 holders of his memecoin on May 22
May 19, 2025 at 10:08 pm
The TRUMP price has increased since breaking out from a descending wedge pattern on April 19.
U.S. President Donald Trump will host an exclusive dinner with the top 220 holders of his meme coin on May 22. The TRUMP price has fallen since April 26, creating a lower high below resistance.
Key Levels:
Support 1: $12.50
Support 2: $11
Resistance 1: $15
Resistance 2: $16.44
TRUMP Price Analysis: Technical Indicators
The technical indicators are bearish for the TRUMP price as the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are falling.
The RSI risks falling below 50, while the MACD has made a bearish cross, both indicating a bearish trend.
After breaking out from the descending wedge pattern on April 19, the TRUMP price increased. The upward movement finally reached a high of $16.44 on April 16, slightly above the $15 resistance area.
However, TRUMP’s price has fallen since, and the price action confirmed the $15 resistance with a lower high on May 10.
After another decrease, the price may break down from the minor support level at $12.50, which could take it to $11.
TRUMP Price Analysis: Wave Count
The wave count gives a bearish TRUMP prediction as it suggests that the price will decrease again.
According to the count, TRUMP is in wave C of an A-B-C correction (red) and will soon break down below support.
Assigning the same length to waves A and C leads to a low of $9.15, which coincides with the 0.786 Fibonacci retracement support level.
Furthermore, TRUMP might retrace the upward movement and fall to new lows as the preceding rally is an A-B-C structure.
What to Expect From TRUMP Next
The TRUMP price rallied after the announcement of an exclusive dinner on May 22 with the top 220 holders of his meme coin.
However, the coin has fallen since the snapshot as large whales decided to sell some of their coin holdings.
The TRUMP price prediction is bearish for the coin as it suggests that the coin will drop to the single digits.
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