TRUMP memecoin is currently valued at $8.68, reflecting a decline exceeding 90% from its all-time peak.
Daily timeframe analysis suggests a potential upward correction could occur within coming days or weeks. A “double bottom” pattern emerged near the $8.25 support level, marking June and September lows this year.
This technical formation consists of two distinct troughs and a neckline resistance at $11.94, corresponding to July 25’s peak. Profit targets are calculated by measuring the vertical distance between the neckline and troughs, then projecting this length upward from the breakout point.
This methodology indicates possible price appreciation to $15.65, representing an 82% surge from current valuations.
The bullish scenario would be invalidated if prices breach the $8.25 neckline support. Such downward movement might trigger further declines, potentially reaching $5.
Analysts emphasize this optimistic forecast relies solely on technical indicators, as fundamental factors remain unfavorable. Nansen data reveals increasing token transfers to exchanges, typically signaling preparation for sell-offs.
Exchange reserves currently hold 129 million TRUMP tokens, marking a 3.92% increase over the past month.
Источник: cryptocurrency.tech
