TRUMP Token Rockets 75% – Is a $16 Breakout Imminent?

Meme coin mania strikes again as the TRUMP token defies gravity with a 75% surge. Traders now eye the $16 threshold—because nothing says ’sound investment’ like political-themed crypto volatility.

Can this speculative asset sustain momentum, or is it just another pump waiting for the inevitable dump? The charts don’t lie—but in crypto, neither do the bag holders.

TRUMP breaks bearish market structure, but faces rejection at…

Source: TRUMP/USDT on TradingView

Based on the move downward in March from $17.75 to $9.54, a set of Fibonacci retracement levels was plotted.

Instead of bouncing to the 50% level at $13.65, the price reached the 23.6% extension level at $7.6, forming a double bottom—only evident in hindsight.

Before the dinner party invite announcement, demand for the memcoin was weak, with the OBV showing a downtrend from the 25th of March to the 22nd of April.

However, over the past 36 hours, high trading volume pushed the OBV to a new high, surpassing its March levels.

The structure of TRUMP remains bullish, as both the $8.7 and $12.2 lower highs have been breached. Still, the 61.8% and 78.6% retracement levels at $14.6 and $16 have acted as strong resistance.

Bulls are expected to defend the $12.2, $10.7, and psychological $10 support levels to maintain momentum.

Source: Coinglass

The Open Interest (OI) shot higher alongside the demand on the back of the dinner invite announcement. On Binance, the OI climbed from $97 million on the 21st of April to $207.9 million on the 24th of April.

The increased speculative interest pointed to firm short-term bullish sentiment.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion