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06/23 14:36Haussier

Can TRUMP memecoin extend its rally as bulls targe

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Can TRUMP memecoin extend its rally as bulls target $2.27 breakout? The Official Trump [TRUMP] memecoin extended its bullish streak for a second consecutive day. The factors driving the positive momentum in the memecoin appear to be the broader market recovery and traders’ bullish bets.  At press time, TRUMP climbed 3.15% over the past 24 hours and was trading at the $1.90 level. Alongside the price increase, the memecoin’s trading volume also surged by 25% to $281 million. This indicates heightened participation from both traders and investors.  According to the daily chart, TRUMP’s broader market trend remains bearish, driven by the breakdown of multiple key support levels, including $4.67, $2.73, and $2.27 over the past six months. In fact, the memecoin continues to trade below the 200-day Exponential Moving Average (EMA) while forming a bearish lower-high and lower-low structure since its launch, indicating that sellers remain in control and the overall trend favors further downside.  Based on the current price action, TRUMP is taking support from an ascending trendline that has been in place since the 5th of June 2026. If the memecoin remains above this trendline, it could continue to gain upward momentum. However, a major rally will only be possible if it breaks above the key resistance level of $2.27, which has acted as a significant hurdle since May 2026.  Moreover, the possibility of a potential decline still exists, and it could occur if TRUMP breaks below the ascending trendline. If that happens, the market could witness a new low in the coming days.  At the time of writing, TRUMP’s Average Directional Index (ADX) has fallen to 19.13, indicating weak trend strength in the asset. This suggests that the current price momentum is likely to fade, which further adds bearish pressure on the asset’s upside momentum. 
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