Can TRUMP memecoin extend its rally as bulls target $2.27 breakout?
TRUMP's overall market structure remains bearish; here's how traders are reacting.
The Official Trump [TRUMP] memecoin extended its bullish streak for a second consecutive day. The factors driving the positive momentum in the memecoin appear to be the broader market recovery and traders’ bullish bets.
At press time, TRUMP climbed 3.15% over the past 24 hours and was trading at the $1.90 level. Alongside the price increase, the memecoin’s trading volume also surged by 25% to $281 million. This indicates heightened participation from both traders and investors.
TRUMP price action and key levels to watch
According to the daily chart, TRUMP’s broader market trend remains bearish, driven by the breakdown of multiple key support levels, including $4.67, $2.73, and $2.27 over the past six months.
In fact, the memecoin continues to trade below the 200-day Exponential Moving Average (EMA) while forming a bearish lower-high and lower-low structure since its launch, indicating that sellers remain in control and the overall trend favors further downside.
Based on the current price action, TRUMP is taking support from an ascending trendline that has been in place since the 5th of June 2026. If the memecoin remains above this trendline, it could continue to gain upward momentum. However, a major rally will only be possible if it breaks above the key resistance level of $2.27, which has acted as a significant hurdle since May 2026.
Moreover, the possibility of a potential decline still exists, and it could occur if TRUMP breaks below the ascending trendline. If that happens, the market could witness a new low in the coming days.
At the time of writing, TRUMP’s Average Directional Index (ADX) has fallen to 19.13, indicating weak trend strength in the asset. This suggests that the current price momentum is likely to fade, which further adds bearish pressure on the asset’s upside momentum.
TRUMP’s investors sentiment turns bullish
Besides the daily chart, derivative data sets tell a different story. According to CoinGlass, the Binance TRUMP Long/Short Ratio has reached 2.02, indicating strong bullish sentiment among traders.
Meanwhile, $1.85 on the downside and $1.96 on the upside are the two major liquidation levels. At these levels, traders appear to be overleveraged, having built $4.08 million worth of long positions and $2.95 million worth of short positions.
These positions clearly reflect bullish sentiment among traders, although the data is recorded on the daily timeframe.
Meanwhile, investors are also following the same bullish path. Data from TRUMP’s Spot Inflow/Outflow metric shows that over the past 24 hours, a modest $102.99K worth of TRUMP tokens has moved out of exchanges, indicating potential accumulation by long-term holders.
Final Summary
- TRUMP memecoin jumped 3.15%, but its broader market structure remains bearish, driven by the breakdown of multiple supports.
- Both trader and investor sentiment remained bullish, as they appear to be betting on long positions and accumulating tokens.
