TRUMP Token Price Eyes Reversal
Donald Trump’s new meme coin OFFICIAL TRUMP (TRUMP) has become the market’s best-performing currency, surging 268% in value in the past 24 hours. Its market capitalization has soared to over $14 billion, making it into the top 20 cryptocurrencies in just 24 hours after its launch.
However, there are signs that the rally may be losing steam, pointing to a possible correction in the near term.
Trump overbought
Trump’s Technical Indicators Indicating that the meme coin is now overbought, raising concerns of an impending correction. For example, its relative strength index (relative strength indexAs of this writing, the index is at 98.88, indicating explosive growth in demand for Trump.
This momentum indicator measures overbought and oversold market conditions for an asset. It ranges from 0 to 100, with values above 70 indicating that the asset is overbought and in need of a correction. On the other hand, values below 30 indicate that the asset is oversold and may be due for a rebound.
Trump’s RSI is 98.88, indicating that the meme coin is extremely overbought, indicating unusually high buying pressure. This signals a potential reversal or correction, as price may struggle to maintain its current trajectory.
also, Trump markets highly volatileincreasing downside risks. This is reflected in the rise in the average true range (ATR), which currently stands at 6.20.
ATR measures the market volatility By calculating the average range between an asset’s highest and lowest price during a specific period. When it climbs up like this, it signals increased volatility, suggesting prices could move in either direction.
Trump Price Prediction: Coin price hovers between $31.64 support and all-time highs
Based on readings from the Trump Fibonacci Retracement Tool, its price could fall towards the $31.64 support once the pullback begins. If the bulls are unable to hold this area, the downtrend may continue towards $15.58.
On the other hand, token accumulation continues to surge Meme coins will be launched A new all-time high invalidates the above bearish outlook.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
