After he has stayed in a downward trend for the past eight days, according to analysts, Trump can be at $ 25 at $ 25.
According to to Analyst Andrew Kang, Who has about 354k x followers, official Trump (Trump) Likely hit its bottom at $ 25 on Jan. 27. He’s noted that this marks a drop of approximately 68% from its all-time high of $ 73.43, reach on January 19, just one day before Donald Trump’s inauguration.
Moreover, Kang believes that the Meme Munt had held relatively low market capitalization for a token linked to US President Donald Trump.
“Still hardly $ 6B market capitalization for a brand that is more known than Ethereum,” the analyst noted.
The trader now expects the meme mint from $ 27 to return by around 105%, the level at which he broke above the pattern.
Since then, however, it has fallen around 60% to stabilize the support level of $ 25, while market capitalization was $ 5.8 billion and it was positioned as the 31st largest altcoin in the market.
Market trends support the Bullish Case for Trump
The demand for Trump has risen under derived traders, with Coinglass facts A daily increase of 15% of the open interest in his futures market that is now $ 939 million. Rising open interest typically indicates growing market participation and bullish sentiment, suggestion that new money is flowing into the trump market and reinforcing the ongoing upward price movement.
On-chain Tracker Whale Watch has marked various major transactions for the past 24 hours. Especially one Bow whales and one Whale Bought $ 371.41k and $ 12.92k from Trump tokens respectively.
Earlier another whale was seen that was purchased for $ 29.6 million from the meme coin from Crypto Exchange Crypto.com. (See below.)
🚨 🚨 1,000,000 #TRUMP (29,601,000 USD) transferred from #CryptoCom to unknown wallethttps://t.co/55318XxcR4
— Whale Alert (@whale_alert) January 24, 2025
Another Positive Indicator Supporting the Bullish Narrative Around Trump is its relative strength index on the 1-day chart, which Stood at 39, close to Hitting Oversold Levels. At this level, assets often experience a potential reversal when buyers withdraw, causing the price to rise.
At the time of the press, Trump had risen by 13.7%and traded at $ 29.35 per coin.
