TRUMP Token Surges 13.1% in 24 Hours, Faces $15 Resistance

The TRUMP token has recently experienced a notable surge, with a 13.1% gain in the past 24 hours, positioning it as one of the top-performing memecoins. Despite this bullish momentum, the token has faced challenges in breaking through the $15 resistance zone. Although the trading volume increased by nearly 60% compared to the previous day, it remains below average, raising questions about the token's ability to sustain its upward trajectory and surpass local highs.

The Fixed Range Volume Profile from March identifies three critical levels that TRUMP has respected: the Point of Control (PoC) at $13, the Value Area High at $14.6, and the Value Area Low at $10.11. The PoC has been a pivotal support level, with bulls actively defending it over the past few days. The $14.6 level could soon act as resistance, particularly due to the rejection from this area a week ago. The strong move beyond this level coincided with a retest of the 20-day moving average as dynamic support, reinforcing the $13 region as a stronger support zone.

On Tuesday, the price surged by 8%, but the trading volume for the day was only marginally above the 20-day moving average. This raised concerns, but the rising A/D indicator indicated dominant buying pressure. Additionally, the Awesome Oscillator did not show overwhelming bullish momentum in recent days, suggesting that trend-following traders should proceed with caution.

The 2-week liquidation heatmap indicates that the concentration of liquidity above the current price suggests that Official Trump is likely to move higher in the short term. Liquidity tends to attract prices, and the liquidity to the south appears too distant compared to the overhead magnetic zones. A significant cluster of liquidity has accumulated at $14.05, making a move to $14 likely. The cluster of liquidation levels extends to $14.44, increasing the chances of a short-squeeze.

Given Bitcoin’s bullish momentum, TRUMP holders may anticipate further gains. Risk-averse traders might consider booking profits near $14.5 and at the $16 levels. However, it is crucial to recognize that the information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.