The TRUMP token price surges 15%, trading at $13.95 amid strong market action.
Next price targets identified between $26 and $30, indicating potential gains exceeding 100%. For a month now, the TRUMP memecoin that is associated with President Donald Trump has been on an uptick spree. As of the latest data, the cryptocurrency opened its price value during the Asian trading session at $12.68, continuing its uptrend that has marked a 15% surge in the last 24 hours.
As the asset continues to maintain its breakout after moving above a significant falling wedge pattern, current market analysis indicates TRUMP could soon see further price increases, potentially revisiting previous price levels between $26 and $30.
TRUMP Breakout and Positive Volume Revealed
Previously, TRUMP’s price was confined within a well-defined Falling Wedge pattern. This specific chart formation typically points toward a reversal of declining prices once the price breaks upward. However, TRUMP managed to get out of this bearish pattern, indicating that further price increases are to be expected soon.
Market analysts indicate that the recent price movement has witnessed an increase in volume, which confirms the breakout from the falling wedge formation. Tracking the price trend, data indicates that the TRUMP token trades at a price of $13.95, a rise of 15.00%. The market cap stands at $2.79 billion, observing an increase of 15.05%.
Source: CoinMarketCap Trading volume in the last 24 hours reads at $2.06 billion, showing a substantial increase of 151.41%. The fully diluted valuation is currently listed at $13.96 billion, while the volume-to-market-cap ratio sits around 73.97%, signaling active market trading.
Price Levels to Watch and Potential for 100% Price Increase
A deeper view on the analysis prepared by Javoin Marks indicates that following this breakout, price levels between $26 and $30 emerge as key areas for TRUMP’s potential upward move.
Source: Javon Marks (X) Getting the price to such a range would be more than a 100% gain off the cryptocurrency’s current prices. These particular price targets have been established on the basis of past resistance levels that have played the critical role during past trading cycles.
Considering the recent breakout, TRUMP might soon experience an increase exceeding 100% compared to current market pricing. Such significant price jumps commonly follow confirmed technical pattern breakouts, especially when supported by substantial positive trading volumes.