TRUMP Token Experiences a Notable Surge: Driving Factors Behind the 40% Increase
TRUMP Token has surged nearly 40% over the past week, signaling a potential bullish trend as analysts speculate on targets exceeding $15.
TRUMP has seen an impressive 40% gain in its value over the last week, signaling a robust recovery from a lengthy downtrend, now trading around $8.
Analysts attribute this positive movement to technical breakouts, heightened market activity, and significant developments surrounding the TRUMP token.
Falling Wedge Breakout Validates Reversal Pattern
Captain Faibik reported that TRUMP has broken out from a falling wedge, a pattern that depicted consistent lower highs and lows until surpassing the upper resistance line. This breakout is interpreted as a bullish signal.
The breakout suggests a potential price target close to $15. Despite a 4% decrease in the last 24 hours, TRUMP remains up over 39% for the week. Trading volume in the last 24 hours was recorded at $2.12 billion, and a retest of the breakout area around $7.7 might occur before further movements take place.
Additionally, CryptoPulse shared that TRUMP is testing the $8.2 SBR level. “If it holds above this area, there’s potential for a move toward $14.6–$16.3,” the analyst added, pointing out that confirmation is contingent on the weekly close.
Indicators Indicate Momentum, but Prudence Urged
The MACD sits in positive territory, reading 0.32, which is above the signal line at 0.073. The histogram indicates considerable buying interest, supporting the prevailing trend, yet the short-term outlook may rely on how sustained this momentum is.
Source: TradingView
The TSI (True Strength Index) registers at 0.83, nearing an overbought range.
Momentum Growth in the Token
Open interest in TRUMP futures has surged past $468 million, indicating heightened trading activity and stronger market engagement. This rise follows the token’s movement from below $6 to above $8.
CryptoPotato reported on X that the team known as Fight Fight Fight is purportedly negotiating to acquire Republic.com’s U.S. operations and is preparing a $200 million fund to repurchase tokens after the project saw a 90% drop from its $9B peak. If this acquisition is realized, Republic users could potentially utilize TRUMP as a payment option.
In a related note, discussions are ongoing regarding potential approval of the Canary TRUMP ETF, which could create additional visibility and demand.
