Official TRUMP Coin Rises 12%: Indicators of Recovery or Just a Temporary Surge?

The Official TRUMP Coin surged by 12% within a 24-hour period, hinting at potential recovery after an extended downtrend and rekindling interest in this meme coin.

The meme coin, originally launched by the US President himself, is attempting a cautious recovery. Since its launch hype, it has faced a prolonged decline, with prices dramatically falling to $16.3—down 78% from its all-time high (ATH). Currently, the recent surge has brought attention back to this coin, suggesting it may be reaching a bottoming-out phase.

“Is it just me or $TRUMP is looking bottomed out? The wick got taken out and the diagonal trendline is breaking as we speak. I will revisit this chart in a few days.” — 💎GEM INSIDER💎 (@gem_insider) February 5, 2025

Following MELANIA, TRUMP Coin is Also Gaining Momentum

After the recent launch of MELANIA Coin, speculation intensified as a wallet withdrew 10 million $USDC from Binance to acquire 6.69 million $MELANIA at $1.5 each. This triggered rumors about a possible Binance listing or merely an exit liquidity pump.

TRUMP Coin has remained consolidated within the $16-$20 range lately. Key resistance is set near $22.6, followed by targets of $25.7 and $30 if the momentum persists. Failing to break through these levels may lead to another decline.

In technical analysis, the price is forming a descending wedge on the 4-hour chart, which frequently indicates a possible upward movement. Currently, it is testing the wedge top at $19.20. A breakout accompanied by strong trading volume could send prices higher, possibly reaching $22.60 or beyond.

In contrast, if the price fails to break out, there is a risk of dropping back to the lower wedge boundary around $18 or the support zone between $16-$17. Traders should look for confirmation of a breakout with high volume to ensure a bullish trend.

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