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The TRUMP Token (TRUMPUSDT) has recently shown remarkable pump potential, presenting possible long positions for investors. From a Technical Analysis perspective, the recent performance of this Token has been quite noteworthy.
For a long time, the TRUMP Token has been fluctuating within a fixed range. However, it recently broke below the lower limit of this range, raising concerns in the market. Nevertheless, the latest daily chart shows that the token price has returned to this critical range. It is worth noting that this rebound occurred against the backdrop of a decline in the overall cryptocurrency market, highlighting the relative strength of the TRUMP Token.
Given the current situation, as long as the price can stabilize within this range, we can expect it to approach the upper limit of the range (around 15 USD). If the price can break through the 15 USD level, the potential for a pump may be greater. Because above this price point, there is currently no significant selling pressure, which could lead to a rapid rise in price.
For possible target price levels, we can refer to the Fibonacci retracement levels. The 0.618 retracement level is around 50 USD, which may become an important psychological level and a potential profit-taking point.
However, considering the lack of significant resistance above $15, if market sentiment is high, the TRUMP Token could even reach new highs, potentially approaching $100. This situation may attract more investor attention and participation (FOMO effect).
Investors should closely monitor this potential trading opportunity, but also keep in mind the high-risk nature of the cryptocurrency market. Market conditions can change at any time, so it is crucial to update trading strategies in a timely manner.