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The Official Trump price soared 9% in the last 24 hours to trade at $15.19 as of 03:20 a.m. EST on trading volume that rose 305% to $4.2 billion.
The jump in the TRUMP price comes after Donald Trump revealed that he would like Bitcoin and other lesser-traded tokens to be in a new US strategic crypto reserve.
This stockpile would include Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL) and Cardano (ADA).
Official Trump Price Could Still Rally
The TRUMP price has been in a prolonged downtrend since its peak, forming a well-defined descending wedge pattern.
This downtrend lasted for weeks, with lower highs and lower lows, indicating strong bearish pressure.
However, two significant support levels were marked at $1.57 and $1.50, where the Official Trump price bounced back, showing signs of accumulation, data from GeckoTerminal shows.
Recently, the price of TRUMP broke out of the descending wedge, which is a bullish reversal signal. The breakout suggests a shift in momentum, potentially leading to a new uptrend.
The 50-period Simple Moving Average (SMA) on the 4-hour chart is at $13.83, acting as an immediate support level. Meanwhile, the 200-period SMA (yellow) is at $17.48, which could act as a resistance level.
A successful close above this level would confirm a strong bullish trend. The Relative Strength Index (RSI) is at 58.07, indicating neutral-to-bullish momentum.
With the RSI below 70, there is still room for further upward movement before TRUMP enters overbought territory.
Can TRUMP Soar To $30?
The breakout from the descending wedge, along with improving technical indicators, suggests bullish momentum.
If the Official Trump price maintains support above the $13-$15 range, the next resistance level at $17.48 (200-period SMA) will be key.
A breakout above $17.48 could lead to a strong rally towards $32, as shown by the projected path.
However, failure to hold support could result in a retest of the previous channel, with downside risk towards $12.
Overall, the current technical structure suggests a strong potential for further upside, provided key resistance levels are broken.
In the meantime, investors are flocking to buy Best Wallet (BEST), which popular YouTuber ClayBro, with over 136K subscribers, says has the potential to soar 10X after launch.
Best Wallet Presale Hurtles Towards $11 Million In Presale – Next 10X Crypto?
The presale for leading Web3 wallet Best Wallet has been on an upward trajectory, as investors have already poured over $10.7 million into the project.
Lauded for its functionality and suitability for today’s market landscape, the non-custodial wallet recently reached over 500,000 total users, with more than 250,000 monthly active users.
With a user-friendly design, advanced features, and high staking rewards, many see the project as the future of crypto wallets. Unlike MetaMask, which is primarily Ethereum-focused, or Trust Wallet, which is great for beginners, Best Wallet supports over 60 blockchains.
The Fastest Growing Wallet in Crypto!
In a crowded market, Best Wallet delivers the tools you need to gain an edge. 🚀
1️⃣ Exclusive alpha on new projects.
2️⃣ Buy and claim tokens in the app.
3️⃣ Manage all your assets across multiple chains in one place.This is why the Best… pic.twitter.com/AT4yos1CmG
— Best Wallet (@BestWalletHQ) December 30, 2024
That means you can manage everything from the top altcoins to the latest up-and-coming tokens all in one place.
Among the many features offered, its “Upcoming Tokens” section is attracting the most attention. This feature helps users discover promising projects that are still in the early stages.
The project’s success in identifying promising projects is clear. It’s identified early tokens including Pepe Unchained (PEPU) and Catslap (SLAP), meme coins that have delivered huge gains for early investors.
Currently, BEST tokens are priced at $0.0242. Investors can also stake BEST tokens for a huge 150% annual return.
Those interested in joining the project’s presale should buy BEST before a price hike in 34 hours.
Learn more about BEST on its official website.
Related News:
- Trump Says Bitcoin And Other Cryptos Will Be In The US Crypto Reserve
- Cardano Price Soars 61%, While This Meme Coin Index ICO Closes On $4M
- Which 3 Crypto Gems Are Poised for Explosive Growth at Launch?
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