TRUMP Memecoin Holds Critical $12 Support as Market Watches for Reversal Signals
TRUMP, the politically themed memecoin, is testing crucial support at $12 after failing to maintain its April rally momentum. The token previously surged from $7.14 to $16.44 last month, driven by news of an exclusive dinner event with former President TRUMP for top holders. However, persistent selling pressure near $15 has limited further upside.
Technical indicators present mixed signals. While the 61.8% Fibonacci retracement level at $10.74 has held through May, declining On-Balance Volume (OBV) and a bearish RSI on the 3-day chart indicate weakening demand. Traders are monitoring the $10-$11 zone as a potential accumulation area, though strong conviction buying has yet to materialize.
The 4-hour chart shows tentative signs of stabilization, but market participants await clearer signals before positioning for a trend reversal. The memecoin’s future trajectory depends on whether bulls can defend current support levels amid growing institutional interest in political-themed crypto assets.
