- Trump-themed memecoin surges 60% regardless of crypto market pessimism.
- TRUMP token breaks resistance and suggests bullish rally potential.
- Bullish indicators counsel that the TRUMP token might proceed its uptrend.
Regardless of the pessimistic sentiment prevailing within the international cryptocurrency panorama, Trump-themed memecoin MAGA (TRUMP) has surged a shocking 60% over the previous week. This outstanding enhance coincides with statements made by Republican presidential candidate Donald Trump relating to digital currencies.
The remarks have been made at a Could 8 get together at Mar-a-Lago, the place Trump gathered supporters who had acquired non-fungible tokens (NFTs) from his “Mugshot Model” fundraiser. On the rally, Trump additionally mentioned he was accepting cryptocurrency contributions for his presidential marketing campaign.
TRUMP/USD 24 hour chart (supply: CoinStats)
At press time, the TRUMP token is value $7.50, up 23.81% from the day before today. This outstanding escalation in worth concurrently affected the token's market capitalization, which elevated by 23.86% and now stands at $329,603,686. This addition ranks the TRUMP token because the 225th largest cryptocurrency by market capitalization.
As well as, the token's buying and selling quantity elevated by 51.43% to $13,157,245 within the final 24 hours. This bullish trajectory of TRUMP coin alerts escalating investor curiosity and engagement within the token, indicating the potential for additional value will increase.
Bullish outlook TRUMP Token
The TRUMP token broke the resistance stage round $6.982 on the every day chart, final touched on April 6, signaling a bullish pattern. If this bullish momentum continues, TRUMP token may break above the 78.6% Fibonacci stage at $7.53. A profitable breakout at this level may end in an upside rally that might problem the main excessive we noticed in March.
TRUMP/USDT 1-day chart (supply: Tradingview)
Nonetheless, if the TRUMP token reveals bearish sentiment, it’s anticipated to search out help across the 68.2% Fibonacci stage. This stage, previously resistance, now acts as help. If this important level is damaged, the TRUMP token may see a value decline to deeper ranges and doubtlessly attain the help stage at $5.549 with an purpose to succeed in the April low.
Technically, the MACD indicator is above the zero line at 0.339, indicating robust bullish momentum for the TRUMP token. The token can also be effectively above the sign line, suggesting that the bullish trajectory will proceed within the brief time period. Moreover, the MACD histogram chart reveals increasing inexperienced bars above the zero line, additional supporting the bullish momentum.
TRUMP/USDT 1-day chart (supply: Tradingview)
In tandem, the Chaikin Cash Stream index indicator is shifting up, however remains to be beneath the zero line at 0.05. This implies rising cash inflows and potential shopping for stress, which matches the general bullish sentiment within the TRUMP token market.
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