• Regardless of the gloom within the cryptocurrency market, Trump-themed meme cash rose 60%.
• TRUMP token breaks resistance and alerts bullish upside potential.
• Bullish indicators counsel that the TRUMP token might proceed its upward pattern.

Regardless of the gloomy sentiment sweeping the worldwide crypto scene, the Trump-themed meme coin MAGA (TRUMP) rose an astonishing 60% final week. This spectacular rise coincides with Republican presidential candidate Donald Trump's feedback relating to digital currencies.

These remarks had been made at a Might 8 dinner at Mar-a-Lago the place President Trump convened supporters who acquired non-fungible tokens (NFTs) from his “Mugshot Model” assortment. . At this rally, President Trump additionally introduced that he would settle for crypto donations for his presidential marketing campaign.

TRUMP/USD 24-hour chart (Supply: coin statistics)

On the time of writing, the TRUMP token is valued at $7.50, a rise of 23.81% from yesterday. This notable improve in worth additionally affected the token’s market cap, which elevated by 23.86% and now stands at $329,603,686. This improve positions the TRUMP token because the 225th largest cryptocurrency by market capitalization.

Moreover, the token’s buying and selling quantity inside the previous 24 hours surged by 51.43% to achieve $13,157,245. This optimistic trajectory for TRUMP Coin signifies rising investor curiosity and engagement within the token, indicating the potential for additional value appreciation.

Bullish outlook for TRUMP token

The TRUMP token has damaged the resistance stage close to $6.982, which was final touched on April sixth, on the every day chart, indicating a bullish pattern. If this bullish momentum continues, the TRUMP token may break above the 78.6% Fibonacci stage at $7.53. A profitable breakout at this level may lead to a bullish rebound and problem the decisive highs skilled in March.

TRUMP/USDT 1-day chart (Supply: buying and selling view)

Nonetheless, if the TRUMP token reveals bearish sentiment, it’s anticipated to search out help close to the 68.2% Fibonacci stage. This stage was beforehand resistance, however now acts as help. If this key level is breached, the TRUMP token value may fall to deeper ranges and attain the $5.549 help stage heading in direction of the April lows.

On the technical facet, the MACD indicator is above the zero line at 0.339, indicating sturdy bullish momentum for the TRUMP token. The token can be properly above the sign line, suggesting a continued bullish trajectory within the quick time period. Moreover, the MACD histogram chart reveals the inexperienced bar increasing above the zero line, additional supporting the bullish momentum.

TRUMP/USDT 1-day chart (Supply: buying and selling view)

In parallel, the Chaikin Cash Move Index indicator additionally has an upward pattern, however continues to be beneath the zero line at 0.05. This means a rise in capital inflows and potential shopping for strain, and is in line with the general bullish sentiment within the TRUMP token market.