TRUMP Coin Price Eyes 20% Rally, Here’s Why?

Key Insights:

• The TRUMP coin price is poised for a 20% upside if it holds above the $12 mark.
• Amid the market correction, whales and long-term holders have potentially accumulated $65 million worth of the TRUMP meme coin.
• Traders are over-leveraged at the $12.75 and $13.21 levels, having built $8.10 million and $3.71 million worth of long and short positions at these levels.

The official Trump (TRUMP) coin is once again garnering significant attention from traders and investors following the recent market correction. Over the past few days, the TRUMP coin price experienced a downside momentum of over 20%, but it is now showing signs of price recovery.

This bullish speculation is based on TRUMP coin’s price action, rising whale interest, and the ongoing price recovery.

Current Price Momentum

At the time of writing, TRUMP was trading near $13.01, up by 1.5% in the past 24 hours. This surge in the meme coin’s price amid the ongoing recovery has attracted traders and investors, leading to notable participation and causing a 15% increase in trading volume.

The rising price, along with the surge in trading volume, indicates strong bullish momentum building in the market.

TRUMP Price Action and Key Levels

According to the TradingView chart, the TRUMP coin price appears to be forming a bullish cup and handle pattern on the daily time frame. However, the pattern is not yet complete but is currently taking shape.

The potential reason for this bullish formation is the breakout of a descending trendline that TRUMP experienced on the four-hour time frame. Following this breakout, the asset appears bullish and is poised for a massive upside rally.

TRUMP Coin Price Prediction

Based on recent price action and historical patterns, if the TRUMP coin price holds or remains above the $12.25 level, there is a strong possibility it could soar by 18% to reach the $15.40 level in the coming days. If this occurs successfully, TRUMP will complete its cup and handle pattern and is likely to maintain its upside momentum moving forward.

On the other hand, if sentiment shifts and the TRUMP coin price falls below the $12 level, it could not only break the support but also lose the support provided by the 200 Exponential Moving Average (EMA) on the four-hour time frame, potentially moving into a downtrend.

Besides this, TRUMP’s Relative Strength Index (RSI) stands at 53, indicating neutral momentum, with neither strong buying nor selling pressure dominating the market. In such conditions, traders and investors may take decisive action once the RSI moves above 60 or below 40 for a clearer signal.

Expert Views for TRUMP

Looking at the current market sentiment and TRUMP price action, a well-followed crypto expert recently shared a post on X (formerly Twitter), noting that the TRUMP coin price could reach $25 in the coming days. In the post, the expert stated,

“The current price of Trumpcoin has been hovering around $13 recently. As a loyal fan of cryptocurrency, Trump will invite the top 220 Trumpcoin holders in the world to attend a private dinner with the president on May 22. I think the price of Trumpcoin will not stop here. It is feasible for it to rise to $25.”

Bullish On-Chain Metrics

With this bullish outlook, investors have been found accumulating TRUMP coin, as reported by the on-chain analytics firm Coinglass.

$65 Million Worth of TRUMP Outflow

Data from the spot inflow/outflow reveals that exchanges across the globe have registered an outflow of over $65 million worth of TRUMP meme coin.

This substantial outflow from exchanges was recorded over the past week when the TRUMP coin price was experiencing downside momentum and a price correction.

Major Liquidation Levels

Meanwhile, traders are currently over-leveraged at $12.75 on the lower side (support) and $13.21 on the upper side (resistance), with long positions worth $8.10 million and $3.71 million built respectively at these levels.