TRUMP Price Prediction Today
Official Trump (TRUMP) is a recently launched meme coin on the Solana blockchain that is making waves and gaining a lot of attention from cryptocurrency enthusiasts. Today, January 22, 2024, the Trump Meme Coin is poised to see significant upward momentum due to the formation of bullish price action on the hourly time frame.
Trump Technical Analysis and Upcoming Levels
According to technical analysis from CoinPedia, Trump appears bullish and has broken out of a minor consolidation that formed near the $40 resistance. In addition to this, meme coins have also broken out of the trend they have been facing since January 19, 2024.
After this breakout, market sentiment is expected to change from a downtrend to an uptrend. Based on recent price action and historical price momentum, if trump card Meme coin closed the hourly candle above $45 and it is very likely that it will surge by 40% to $63 levels in the coming days.
On the positive side, with a relative strength index (RSI) of 53 for Trump, the meme coin indicates potential upside momentum and suggests an ideal buying opportunity.
Trump’s $269M outflow and current price momentum
At press time, the Meme coin was trading near $42, with the price surging more than 2.6% in the past 24 hours. However, over the same period, historical price momentum showed reduced participation from traders and investors, resulting in a 50% drop in trading volume.
Despite low participation, some investors and whales have been accumulating the TRUMP meme token as the token is currently down nearly 47% from its all-time high. Additionally, these coins have the support of US President Donald Trump.
In addition, data from on-chain analytics companies coin glass The spot inflow/outflow indicator shows that the exchange experienced TRUMP outflows worth $268.8 million.
Heavy outflows from exchanges indicate potential accumulation and could soon impact Trump’s price and upward momentum.
