trump Crypto Coin Potentially Set for Price Rebound
The official Trump crypto coin (TRUMP) might see a price rebound soon. Despite recent market downturns,analysts spot a promising double-bottom pattern,suggesting an upcoming surge.
Currently,TRUMP trades at around $8.68,a slight uptick from its recent low of $8.25. This price drop represents a massive 90% decline from its peak, wiping out billions in value. However, the daily chart hints at better days ahead.
Experts note that TRUMP has created a double-bottom formation, with critical support levels in June and September at $8.25. If this pattern holds, prices could surge significantly.
A double-bottom is a bullish indicator where price dips twice at similar levels, creating a ‘W’ shape. In this case, the next target could hit $15.65, marking an 82% increase from today’s rate. However, a drop below $8.25 would invalidate this prediction, possibly leading to further declines.
Technical analysis aside, fundamental factors show mixed signals. Data reveals growing TRUMP holdings on exchanges, signaling potential selling pressure. Whales, major players in the market, have also offloaded coins recently, typically a bearish sign.
Despite these concerns, the TRUMP token still has room for growth. approvals from financial firms like Canary, Osprey Funds, and REX Shares could introduce more American investors, boosting demand.
- Double-bottom pattern suggests imminent price rise
- current price: $8.68, up slightly from $8.25
- Potential surge up to $15.65 if pattern holds
- growing exchange holdings indicate selling pressure
- Whale selling continued in the past weeks
- Financial firm approvals could bring new investors
