TRUMP PRICE FORECAST TODAY
Official TRUMP, the recently launched meme coin on the Solana blockchain, is making waves and gaining a lot of attention from crypto enthusiasts. Today, January 22, 2024, TRUMP meme coin is set to move higher due to strong price action on the hourly time frame.
TRUMP technical analysis and upcoming level
According to CoinPedia's technical analysis, TRUMP looks bearish with a minor consolidation exit from the $40 resistance level. Furthermore, Mem Coin has broken out of the trend it has been facing since January 19, 2024.
After this upheaval, the sentiment is poised to change from a downtrend to an uptrend. Based on recent price action and historical price progress, if the TRUMP meme coin closes above $45 on an hourly candle, there is a strong possibility that it could rise by 40% to reach the $63 level in the coming days.
On the positive side, with TRUMP's Relative Strength Index (RSI) at 53, Mem Coin shows potential momentum and suggests a good buying opportunity.
$269 Million TRUMP EXIT AND CURRENT PRICE MOMENTUM
At press time, Meme Coin is trading near $42 and has experienced a price increase of over 2.6% in the last 24 hours. But at the same time, historical price progress shows a decline in trader and investor participation, which has reduced trading volume by 50 percent.
Despite the low participation, some investors and whales have been hoarding TRUMP meme coins, as the token is currently down 47% from its all-time high. Additionally, the tokens are backed by US President Donald Trump.
Additionally, data from on-chain analytics firm Coinglass spot inflows/outflows indicates that the exchange saw a massive $268.8 million worth of TRUMP withdrawals.
This suggests that a large volume of exchange flows may accumulate and may soon affect TRUMP's price and volatility.
