TRUMP Coin Soars on New Token Launch Rumors
Former President Donald Trump's recent cryptic post on Truth Social has sparked widespread speculation about a potential new meme coin launch. The price of $TRUMP surged nearly 6% within 24 hours, with trading volumes doubling to $345 million. Market participants are closely watching for a potential breakout above the key $9.50 resistance level.
Technical analysis shows $TRUMP bouncing off strong support at $5.50, though the Relative Strength Index (RSI) hasn't yet confirmed a bullish signal. A decisive break above the 200-period exponential moving average could signal significant upside potential in this volatile meme coin sector, potentially creating a new FSA (Favorable Sentiment Alignment) opportunity for traders.