TRUMP token seems poised for a potential rally following a significant price correction. According to an analysis by World Of Charts, the recent market movements indicate that the token may be ready for a relief rally.
In the chart reviewed by World Of Charts, the price action of the TRUMP token is depicted over a two-hour timeframe. A pattern has emerged: a falling wedge. This pattern is recognized as a bullish reversal, suggesting that the price could soon shift upwards. The wedge has been broken to the upside, which is a promising sign for those watching the token’s performance.
Additionally, World Of Charts points out that the price has successfully breached the upper trendline of the wedge. This breakout is accompanied by a retest, which seems to confirm the strength of the upward momentum. As the price consolidates after this breakout, it appears to be gaining traction.
TRUMP Price Targeting the $28-$30 Range
The analysis suggests a measured move of approximately 67%, targeting a price range between $28 and $30. This projection aligns with World Of Charts’ expectation of a near-term rally for the TRUMP token. The projected target is derived from the height of the falling wedge, applied from the breakout point.
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After experiencing what World Of Charts describes as a “massive correction,” the breakout suggests that the bearish momentum has weakened. This shift opens the door for a possible relief rally in the coming days.
World Of Charts anticipates that the TRUMP token could reach the target price of $28 to $30, assuming that market conditions remain stable and no major disruptions occur.
This bullish projection is also supported by some data released days ago. Based on some news, data from crypto firms like Merkle Science and Chainalysis showed that the TRUMP meme coin had generated between $86 million and $100 million in trading fees by Jan. 30, just a few days following its launch.
With the increased attention on the meme coin, it could also see steady growth in the long term.
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