- TRUMP token surged 273% to $13.23 in 24 hours.
- Market cap increased to $14.13B with a $14.97B trading volume.
The TRUMP token witnessed a remarkable 273.08% increase in price over the past 24 hours, climbing to $70.66. This surge boosted its market cap to $14.13 billion, reflecting a 274.10% rise.
The trading volume skyrocketed by 477.41%, reaching $14.97 billion and pushing the volume-to-market-cap ratio to 116.95%. With a total supply of 999.99 million TRUMP tokens, its fully diluted valuation (FDV) now stands at $70.85 billion.
Key Technical Levels and Indicators
Analyzing the 4-hour chart, TRUMP shows significant resistance at $13.30 and support at $2.80. If the token manages to break above the resistance level, it could aim for $15.00 or higher. However, failure to maintain current support might lead to a price retracement below $2.50, potentially testing lower levels.
The Relative Strength Index (RSI) is currently at 68.12, signaling the asset is nearing overbought conditions. Meanwhile, the RSI average stands at 56.99, indicating bullish momentum remains intact but warrants caution.
Moving averages further support the bullish outlook. The 9-day moving average (MA) of $8.42 has crossed above the 21-day MA of $5.93, forming a bullish crossover. This pattern often predicts continued upward momentum. Additionally, the Chaikin Money Flow (CMF) displays positive inflows, reflecting strong investor confidence in the token’s prospects.
The trading volume surge highlights the immense market interest in TRUMP. With the market cap ratio surpassing 100%, the token exhibits substantial liquidity. The combination of bullish technical indicators and heightened investor activity suggests the possibility of further gains if key resistance levels break.
However, the RSI nearing overbought levels implies that a correction could occur if buying pressure wanes. Traders should monitor the support at $2.80 closely. If the price drops below this level, bearish sentiment might take hold, leading to increased selling pressure.
TRUMP’s impressive rally underscores its growing appeal among traders and investors. The bullish momentum, driven by positive technical signals and robust trading activity, positions the token for potential new highs.
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