Official Trump (TRUMP) Bullish Trends: Will the Price Hold Above Key Support Levels?
Official Trump (TRUMP) has awakened from a ten-day slumber, where its price remained stuck in the $14.6–$17.9 range. Trading volume during this period was relatively low, and many speculated that the downtrend would continue if Bitcoin (BTC) faced further negative news. However, a sudden surge in TRUMP’s price on February 14th broke through this stagnation, leading to a crucial shift in market dynamics.
Price Breakout on February 14: A Market Structure Shift
The breakout on February 14 saw TRUMP’s price surpass the $17.88 resistance level, turning it into a potential support level. This shift marked a possible reversal of the previous downtrend. Official Trump had been fluctuating between the $14.6 and $17.88 price levels since early February, with these boundaries marking the local high and low. The downtrend had a lower high at $17.88, but this was surpassed, indicating a change in market structure.
Is TRUMP Set for an Uptrend?
For the bullish scenario to be confirmed, TRUMP needs to establish a higher high beyond the $22.55 resistance level. A higher low has already been established, but confirmation of the upward move will depend on breaking through this key resistance. Despite the recent drop to $15, which showed that bulls haven’t fully regained control, market sentiment remains positive.
Liquidity Heatmap and Key Price Zones
A closer look at the liquidity heatmap of the last two weeks highlights the $18 zone as a strong point of interest. This region, coupled with the $21.63 cluster, could act as significant resistance levels. However, the rising spot CVD and Open Interest suggest that bullish momentum is gaining ground. TRUMP could retest the $18 region before making a move toward higher resistance levels.
Short-Term Bullish Sentiment: What’s Next for TRUMP?
The price action, alongside indicators showing increased bullish activity, suggests that TRUMP might be poised for an upward move. However, a drop below the $17.88 support would invalidate this optimistic outlook and could signal the continuation of the downtrend.
TRUMP investors and traders will closely monitor these price levels, as any movement beyond $22.55 could confirm the next phase of the uptrend. Conversely, a failure to maintain support at $17.88 may lead to further downside.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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