Official Trump (TRUMP) Price Rises Above $8.30
The price of Official Trump (TRUMP) keeps climbing, trading above $8.32 on Thursday. This follows a 16% increase from the previous day. Data from the blockchain and derivatives markets show strong signs of a continuing uptrend. Large investors, called whales, are buying more. Buy orders are dominant, and funding rates are positive. These factors boost investor confidence. Momentum indicators suggest the price may keep rising in the coming days.
On-Chain and Derivatives Data Show Bullish Signs for TRUMP
Data from CryptoQuant confirms a positive outlook for TRUMP. The spot and futures markets show large whale orders and strong buy pressure. This suggests a possible rally ahead. Derivatives data from Coinglass also support this. The funding rate, which measures how much traders pay each other, turned positive at 0.0053% on Thursday. This means traders betting on price increases are paying those betting on declines. In the past, such shifts to positive funding rates led to sharp TRUMP price gains.
TRUMP Price Forecast: Bulls Aim for $11.92 Target
Official Trump found support near the 50-day Exponential Moving Average (EMA) at $7.30 on Tuesday. The price jumped more than 16% the next day. On Thursday, it traded around $8.31, breaking above a descending trendline. If TRUMP closes above the 61.8% Fibonacci retracement level at $7.95 daily, it could climb to the July 21 high of $11.92.
The Relative Strength Index (RSI) is 61, indicating growing bullish momentum. The Moving Average Convergence Divergence (MACD) shows a bullish crossover, signaling the uptrend may continue. However, if the price corrects, TRUMP could drop back to the 50-day EMA at $7.30.
