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The TRUMP OFFICIAL market recently surged, approaching the $80 price level. However, the market subsequently retraced to a lower price level. Currently, price action in this market is rebounding from a newly found support level, and it appears likely that the market may proceed more steadily moving forward.
TRUMP Statistics:
Current Price of TRUMP OFFICIAL: $29.74
Market Capitalization: $5.96B
Circulating Supply: 200M TRUMP
Total Supply: 999.99M
CoinMarketCap Rank: 25
Key Price Levels:
Resistance: $35, $40, $45
Support: $25, $20, $15
TRUMP Takes Off from Newly Found Support
The TRUMP OFFICIAL market, a newly launched token, has managed to gain massive traction over the past few days. The magnitude of this traction can be seen in the earliest price candles on the chart. Nevertheless, the market has experienced reduced bullish activity, and price action now appears calmer. Currently, price activity is steadily rising from the $25.74 support level.
The ongoing session on the 4-hour chart remains green and stands above the 20-day Moving Average (MA) line. The movement of the Stochastic Relative Strength Index (RSI) also indicates that price action is proceeding upward for now. However, the exaggerated movement of the Stochastic RSI lines raises concerns about the sustainability of this upside retracement.
TRUMP OFFICIAL Sees a Minor Rebound Off Crucial Support
In the 1-hour market for TRUMP officials, price action shows resilience in its upward trajectory. Recent price candles are positioned above the 100-day MA, with the last green candle exhibiting a small body but forming slightly above the 100-day MA curve.
However, the Stochastic RSI indicator lines are already in the overbought region and are now sloping downward toward the 80 mark. This suggests potential volatility. Consequently, market participants face two options: either buy into the market now and hope for a confirmation of the upward trend or wait for a trend confirmation through a crossover on the RSI near the $35 price level.
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