TRUMP has gained almost 40% in the past week, recovering sharply after a long downtrend. The price is now trading near $8.
Analysts have pointed to technical breakouts, increased market activity, and new developments around the project as drivers of the move.
Falling Wedge Breakout Confirms Reversal Pattern
Captain Faibik reported that TRUMP has broken out of a falling wedge, a pattern that had been forming over several months. It showed a clear trend of lower highs and lower lows until the price moved above the upper resistance line. This kind of breakout is commonly tracked as a bullish reversal.
Notably, the breakout points to a possible upside target near $15, based on the height of the pattern. At the time of writing, TRUMP is down 4% in the last 24 hours but remains up more than 39% on the week. Trading volume reached $2.12 billion in the past 24 hours. A retest of the breakout area near $7.7 is possible before any further move.
CryptoPulse shared that TRUMP is now testing the $8.2 SBR level. “If it holds above this area, there’s potential for a move toward $14.6–$16.3,” the analyst noted, adding that confirmation depends on the weekly close.
Indicators Signal Momentum, but Caution Builds
The MACD is in positive territory. The MACD line is reading 0.32, above the signal line at 0.073. The histogram shows strong buying interest. This supports the ongoing trend, but the short-term outlook may depend on how long momentum holds.
The TSI (True Strength Index) is at 0.83. This reading is near the upper range, often seen as overbought. The setup suggests that while the market is still trending up, short-term cooling is possible.
Momentum Builds Behind the Token
Open interest in TRUMP futures has climbed to over $468 million. This is the highest reading in weeks. The rise comes after the token moved from under $6 to above $8. Rising open interest usually signals more active trading and stronger engagement from participants.
In a separate update, CryptoPotato reported on X that Fight Fight Fight, the team behind the TRUMP token, is in talks to acquire Republic.com’s U.S. operations. The group is also planning a $200 million fund to repurchase tokens after the project dropped 90% from its $9B peak. If completed, Republic users may be able to use TRUMP as a payment token.
Meanwhile, there is also discussion around a possible approval of the Canary TRUMP ETF. If approved, it could lead to more exposure and added demand.