TRUMP spiked to a local high of $8.02 this week, marking its strongest daily performance in more than six months. The move followed major announcements around the USD1 stablecoin, but more importantly, it pushed TRUMP through several technical resistance levels that traders had been watching for weeks.
The rally came fast, with volume surging across centralized exchanges. While the news flow gave the rally a boost, the charts suggest the breakout was already in motion – just looking for a catalyst.
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Trend Shift or Temporary Bounce?
For much of Q3, TRUMP traded in a descending channel, repeatedly testing lower highs and failing to hold above the $6.50 range. This week’s move broke that pattern.
On the daily chart, TRUMP reclaimed the 20-day exponential moving average (EMA) and closed above the 50-day EMA for the first time since August. These moving averages had previously acted as dynamic resistance throughout the downtrend.
The relative strength index (RSI) moved from neutral into a stronger zone, reaching levels not seen since early May. The On-Balance Volume (OBV) also showed a sharp uptick, indicating an increase in buying pressure.
Market structure flipped from lower lows to a potential higher low setup. Support is now forming around the $6.80-$7.20 zone, with short-term resistance near $8.80. A secondary cluster of resistance appears around $9.30 and $10, aligning with prior rejection points from earlier in the summer.
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Whale Activity and Timing
Data from on-chain trackers showed multiple large TRUMP purchases in the 24 hours leading up to the USD1-Enso announcement. This aligns with previous patterns where accumulation activity occurred ahead of price movement. The buying continued even after the breakout, with at least three whale wallets adding to their positions.
The USD1 stablecoin, associated with World Liberty Financial, confirmed new integrations that increase its presence across decentralized platforms (WLFI token also spiked, although not as much as TRUMP). President Trump also signaled optimism regarding trade negotiations with China, which may have influenced broader sentiment around affiliated tokens.
Interestingly, the MELANIA token also spiked over 30%, despite being significantly down in the recent months, losing over 99% from its all-time high.
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Final Takeaway
Technically, TRUMP has flipped several bearish signals into bullish ones. The structure now supports further upside, but only if momentum holds and the price can stay above its reclaimed moving averages. RSI, OBV, and short-term EMAs are all aligned to support the current trend – but that alignment is still fresh.
