Memecoin TRUMP Plummets 32% Amid Geopolitical Tensions

In the midst of escalating geopolitical tensions between Israel and Iran, with the United States involved, the cryptocurrency market is under significant pressure. Ethereum (ETH), a leading cryptocurrency, has seen a notable decline, dropping from a monthly high of $2,877 to $2,246. This market turmoil has particularly affected memecoins, including Official Trump (TRUMP), which has experienced a 13% decline over the past week, extending its monthly losses to 32%.

Despite the overall market downturn, an intriguing pattern is emerging on TRUMP’s chart. This pattern closely resembles the one that preceded PEPE’s significant rally earlier this year. In early 2024, PEPE underwent a classic accumulation-reversal breakout following a severe downtrend. This involved a prolonged decline, a consolidation phase, and a subsequent bounce from support levels, ultimately leading to a parabolic 934% rally once PEPE surpassed its horizontal resistance and reclaimed the 100-day moving average.

TRUMP’s chart exhibits a strikingly similar structure. After a substantial downtrend, TRUMP found support in the accumulation zone and recently rebounded from a key support level. Currently, it is hovering around the same horizontal resistance and 100-day moving average as PEPE did before its breakout. This near-identical fractal alignment has sparked speculation that TRUMP could be on the brink of a major bullish reversal.

If this fractal pattern continues to develop, TRUMP could potentially surge towards the $45–$50 range, representing a multi-hundred percent increase from its current levels. However, for this bullish scenario to materialize, TRUMP must decisively break above the $10.86 resistance level and reclaim the 100-day moving average. Only then would the setup transition into an actual trend shift, paving the way for substantial upside. Until this confirmation, the potential remains just that—a possibility, not a certainty.

In a market characterized by uncertainty and volatility, TRUMP’s chart is showing promising signs. While past performance is not indicative of future results, historical patterns often repeat. If TRUMP follows PEPE’s trajectory, the potential upside could be substantial. Nevertheless, investors should exercise caution. A fractal pattern is not a guarantee, and macroeconomic conditions, particularly geopolitical events, can rapidly alter the market landscape.