TRUMP Short-Term Momentum Gains Steam – Can It Hit $35?The Official Trump (TRUMP) token has surged 12% in the past 24 hours, with trading volume up 14.36%. The token broke past the $28 local resistance level, but it’s unclear if it’s ready to challenge the $30 resistance zone just yet.
TRUMP has been consolidating within a range of $24.58 to $31.37 over the past two days following a sharp retracement from $74. While the memecoin sector has struggled recently, this consolidation isn’t necessarily bearish. Accumulation has restarted, hinting at potential bullish momentum.
The On-Balance Volume (OBV) has shown an uptick, crossing mid-range levels, while the Awesome Oscillator printed a bullish crossover. However, more consolidation within this range is likely in the coming days.
Key resistance lies at $32.3, a lower high that defines the current downtrend. A 2-hour close above this level could flip the market structure bullishly, opening the door for a potential move to $35. Swing traders should approach with caution, as rejection at $32.4 remains a possibility.
Bitcoin’s short-term bullish momentum could provide support for TRUMP to spike toward $35, hunting liquidity before potentially falling back into its range. For now, breakout traders must temper enthusiasm and prepare for rangebound price action while keeping an eye on critical levels.
