Trump Memecoin Surges: $22.6 Next Target as Bulls Charge

TRUMP, a popular memecoin, has recently seen a significant price increase, with the coin flipping from $18 to support. This move has sparked speculation about the coin's next stop, with some analysts suggesting that $22.6 could be the next target.

TRUMP had been stuck in a range between $14.6 and $17.9 for over a week, with low trading volume and a lack of significant price movement. However, on February 14, the coin saw a sudden price increase, flipping the $17.88 level to support. This move has led some to believe that TRUMP is on its way to an uptrend.

The coin's price action has been oscillating between the $17.88 and $14.6 levels since early February. The previous downtrend had its lower high at $17.88, and when this level was breached on February 14, it signaled a shift in market structure. Since then, the price has made a higher low, but it remains to be seen whether TRUMP can make a higher high beyond $22.55.

The liquidation heatmap of the past two weeks highlights the $18 region as a strong magnetic zone, relatively close to the current price. This suggests that TRUMP could retest $18 before moving higher. However, the spot CVD and Open Interest show bullishness is rising, with strong spot demand over the past 48 hours. If this trend continues, it could bear TRUMP beyond the $22.6 local resistance level.

Overall, the price action and indicators suggest some bullish promise in the short term. However, a price move below the local support at $17.88 would invalidate this bullish idea, and continued lower highs and lower lows would signal another downtrend in play.