- OFFICIAL TRUMP is trading around the $6.93 mark.
- TRUMP’s trading volume has skyrocketed by over 485%.
The red carpet is once again ready for the crypto assets, which reflect losses across the market. As the neutral sentiment lingers within the market, the price is moving downward. Bitcoin, the largest asset, hovers at around $113.6K, while the largest altcoin, Ethereum, trades at $4K. Among the altcoins, OFFICIAL TRUMP (TRUMP) has gained 10.93% in value.
The asset opened the day trading at a bottom range of $6.18, and with the bullish encounter, the price has climbed to a high level of $8.02. It breaks the key resistances to confirm the uptrend. Further upward pressure may see additional gains.
As per CoinMarketCap data , at the time of writing, OFFICIAL TRUMP traded within the $6.93 mark. Moreover, the market cap has reached $1.36 billion, with the daily trading volume of TRUMP having increased by over 485%, reaching $1.73 billion.
Is the Next Breakout Around the Corner for OFFICIAL TRUMP?
The OFFICIAL TRUMP’s Moving Average Convergence Divergence (MACD) line crosses above the signal line, giving a bullish signal. It indicates that the ongoing momentum may shift further up, and the price could continue rising.
TRUMP chart (Source: TradingView )
In addition, the Chaikin Money Flow (CMF) indicator of TRUMP is at 0.17, suggesting moderate buying pressure. Also, the money is flowing into the asset. The closer the value gets to +1, the stronger the accumulation trend.
With the bullish takeover, OFFICIAL TRUMP might test the crucial resistance range at around $7.03. An extended correction on the upside could trigger the golden cross to take place, sending the price up to $7.13 or even higher.
If the TRUMP price momentum reverses, a bearish trading pattern could help find the nearby support at $6.83 level. The downside correction might initiate the emergence of a death cross, pushing it to trade below $6.73.
TRUMP’s daily Relative Strength Index (RSI) found at 66.61 signals that it is showing strong bullish momentum, and may approach the overbought zone. If it climbs higher, a short-term correction could follow. Besides, the OFFICIAL TRUMP’s Bull Bear Power (BBP) reading of 0.684 implies that the bulls currently have the upper hand in the market. Notably, the buying pressure is stronger than the selling pressure.
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