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The official Trump -Memecoin was in a serious downward trend, but was rumbled higher from the support level of $ 8.5 and could climb over $ 9, a recovery and a push in the direction of $ 11.5’s resistance.
Trump Media Formal sketched His intention to launch a token of the truth. This proposed token would be part of the larger reward program.
This is integrated in a truth digital wallet, so that users can initially make the truth+ subscriptions.
The company avoided the use of the term cryptocurrency, but it was greatly implicated that blockchain infrastructure would be used.
The American president has already received criticism of the official Trump [TRUMP] token. How’s the original memecoin?
Trump -Toks will probably start higher now
Source: Trump/USDT on TradingView
Official Trump has re -tested the $ 8.5 support zone. In the weekend, after the decrease to $ 8.5, the price was bounced at the time of the press to $ 8.89.
However, the market structure was strong bearish and a movement above $ 10.5 local high is needed to turn the bullishs structure.
Ambcrypto zoomed out and discovered that the memecoin has been unable to break the level of $ 11 since the beginning of June. Conversely, the demand zone of $ 8.5 has been steadily defended.
This meant that the Trump -token offered a good buying, aimed at the resistance of $ 10.5.
The OBV fell slightly lower, while the reading of the RSI of 39 reflected the Bearish Momentum. Although this indicated that we should expect that the downward trend would continue, traders can have trust in buying official Trump.
They must expect that the range will take place until it is decided. Such a break has not yet been materialized.
Source: Trump/USDT on TradingView
The dotted yellow line for $ 8.95 was the local lower high for Trump Bulls to break through. The market structure on the 4-hour graph remained Bearish, but a movement beyond $ 8.95 could change this.
The CMF measurements are above +0.05 since 1 August.
This meant the purchasing pressure, so that the idea can look at the swing traders to buy. In general, the bullish idea has a clear invalidity- a drop below $ 8.5.
The reward weighed heavier than the risk, especially if the official Trump can climb past $ 8.95.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer
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