Official Trump Price Aims For A Rebound

The TRUMP price analysis on the 4-hour chart exhibits a descending wedge pattern, which is generally considered a bullish reversal pattern.

The price of Official Trump (TRUMP) rose sharply on Monday evening, as the price dropped below $20 but found support at the 50-day Simple Moving Average (SMA).

The price of TRUMP dropped to a low of $18.70 before recovering slightly to trade at $18.80 by 11:27 p.m. EST. This marks a 4% increase in the last 24 hours, and the trading volume also surged by 5% to reach $2.47 billion.

The TRUMP price analysis on the 4-hour chart showcases a descending wedge pattern, which is typically considered a bullish reversal pattern. The price of Official Trump has been making lower highs and lower lows within the wedge.

This downtrend follows a massive initial price surge, indicating a natural correction and consolidation phase. TRUMP is currently testing the upper boundary of the wedge around $20, with a slight bounce suggesting potential support, according to data from GeckoTerminal.

Additionally, the 50-day Simple Moving Average (SMA) at $22.12 is acting as dynamic resistance, keeping the price below it. If the price of Official Trump breaks above this level, it could trigger bullish momentum.

The Relative Strength Index (RSI) is currently at 45.29, which is below the neutral 50 level but not in oversold territory. This indicates that the price of TRUMP is still in a bearish phase but has room for upside movement. If the RSI moves above 50, it would confirm increasing bullish momentum.

Meanwhile, the Moving Average Convergence Divergence (MACD) is showing early signs of a potential bullish crossover. The MACD line (blue) is attempting to cross above the signal line (orange), which is a positive indicator. If this crossover materializes with increased volume, it could signal the start of an upward trend.

TRUMP Price Prediction

Given the descending wedge pattern, the RSI hovering near neutral, and the MACD showing early bullish signs, there is a strong possibility of an upcoming breakout.

If TRUMP/USD breaks above $22.12 (50-day SMA), it could rally toward $25–$30 in the short term.

However, failure to break out could lead to further consolidation within the wedge before an eventual move. A drop below $18 could invalidate the pattern and lead to further downside, with $15 being the next psychological support level.

Meanwhile, investors are also buying a new Solana meme coin called Solaxy (SOLX), which popular YouTube channel 99Bitcoins, with over 724K subscribers, says has the potential to soar 100X post-launch.

Solaxy Presale Hurtles Toward $20 Million Mark

The new Solana Layer-2 solution, Solaxy, continues to gain traction in the crypto space, with its presale having now raised over $18.2 million.

Solana continues to grow at a rapid rate, driven in no small part by a trading boom triggered in part by the launch last month of TRUMP and MELANIA meme coins.

Recording over 100 million monthly users, the Layer 1 network is often faced with issues such as slow or failed transactions and congestion. Solaxy seeks to resolve these issues.

According to the Solaxy developer’s published updates, the team intends to use a system called rollups to improve Solana’s scalability. With rollups, Solaxy Layer 2 would bundle and process transactions, while Solana’s mainnet would finalize them.

🚨 Solaxy is now live in Upcoming Tokens! 🚨@SOLAXYTOKEN gives holders an opportunity to join the first-ever Solana Layer 2 blockchain.

Solaxy is set to enhance blockchain innovation through limiting congestion, reducing failed transactions, and improving scalability on SOL.… pic.twitter.com/satNF6zFNF

— Best Wallet (@BestWalletHQ) December 17, 2024

As a result, users will benefit from faster transactions with potentially lower fees without losing Solana’ robust security and transparency.

Moreover, once launched, Solaxy will provide a platform where developers can build decentralized applications or launch new tokens without compromising (and possibly even improving) Solana’s layer 1 capabilities. 

Solaxy also offers holders who stake the project’s SOLX token a huge annual yield of 223%.

Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001626 each using BNB, ETH, USDT, or a bank card.

Buy SOLX here before a price hike in less than 24 hours to secure the best deal.