The price of OM, a token that is part of Donald Trump’s ‘Trump: The Game’ project, has been on a downward trajectory since the beginning of 2024, as highlighted in the chart above.
As of May 2, OM was sitting near the wedge’s lower support, a zone where past price action has repeatedly bounced.
If the token breaks decisively above the wedge’s upper boundary, it could trigger a technical rebound, targeting the $0.66–$0.67 area. This level is roughly 50% above current prices and near the pattern’s height projected upward.
Supporting this outlook, the relative strength index (RSI) is deep in oversold territory at around 23, hinting at a potential momentum shift if buyers step in.
However, the price remains under its key exponential moving averages (EMA 50 at $0.57 and EMA 200 at $2.45), meaning any breakout attempt must overcome these resistances to sustain a broader recovery in May.
Donald Trump’s Dinner Date Is Only Hope for $TRUMP Memecoin
TRUMP’s only uplifting fundamental is Donald Trump’s dinner plans with the top 220 holders of his controversial memecoin.
The Solana-based cryptocurrency jumped by over 75% overnight following the announcement on April 23, but it has since lost its upside momentum and is down approximately 25% from the local top.
It remains susceptible to wild price swings as the event nears its May 22 deadline. Meanwhile, an inverse cup and handle (IC&H) pattern is threatening price declines in May.
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