The TRUMP meme coin is rallying toward upward momentum and continues its movement to reach its key support level

The TRUMP meme coin is rallying toward upward momentum and continues its movement to reach its key support level

The TRUMP meme coin is showing signs of rallying toward upward momentum and continues its movement to reach its key support level at $13 after a long time of consolidation. Now it is moving toward a fresh and new momentum. Both traders and investors are closely watching this coin to get a maximum recovery. If a successful breakout occurs, it will lead to new and fresh highs.

At the time of writing, TRUMP is trading at $12.78 with a 24-hour trading volume of $671.08M and a market cap of $2.55B. TRUMP’s price is hit by the market volatility on the one-day and weekly charts; however, over the last month, its price is significantly up by 64.55%, showing signs for the next major journey.

Source: CoinMarketCap

According to the crypto analyst Emma, the memecoin $TRUMP has performed an impressive recovery following its sharp dip, rebounding from deep lows to a high target of $16.46. It was a turning point in market attitudes, indicating renewed investor interest in the token despite recent bearish pressure.

But since the surge, $TRUMP has fallen into a process of sideways consolidation, now fluctuating in a clearly visible range of $12.50 and $13.30. Specifically, the token has been able to recapture and sustain the significant barrier at $13.00, a mark of internal resilience. The current consolidation, although reducing in size, is seemingly building the foundation for the next major move. As buyers are steadily absorbing the sellers’ interest, they’re preventing any significant collapse in the price.

Technically, the price structure presents an interesting setup for a breakout, and traders are keeping an eye on this development. The optimal accumulation or entry zone is visualized between $12.60 and $12.90, a price range that has repeatedly attracted buyer interest, offering robust support during prior dips. In the short term, the resistance is offered at $13.37, where earlier rallies faced selling pressure, while a broader target is found at $14.20, aligning with the peaks reached during prior upward movements.

Source: X

In the scenario where bullish strength persists and the price manages to breach these resistance levels, $TRUMP may set its sights on retesting the $15.50 level, a region that forms the upper boundary of the recent rally. Conversely, a clear breakdown below $12.30 would invalidate the bullish structure, making it a logical stop-loss level for traders who prefer to manage risk, varying with individual risk appetite and market conditions.