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The price of TrumpCoin rose over 20% in the past 24 hours to trade at $0.009051 at 7:40 am EST as investors begin to rapidly accumulate the meme coin.
This surge in DJT price comes after the bitcoin 2024 organizer x.com/BitcoinMagazine/status/1811181306438660375″>Announced that former US President Donald Triumph He will attend the event and give a 30-minute speech at 2:00 p.m. Central Time on the final day of the conference, which runs from July 25-27.
TrumpCoin Price Tests Important Resistance
DJT/USD 4-hour chart (Source: x/tqBazMDr/”>GeckoTerminal)
He Trump coin The price managed to break above the resistance level of $0.008048 over the past 24 hours. It then attempted to break above the subsequent barrier at $0.008863 as well. However, the bears managed to prevent DJT from breaking above this threshold.
If buyers manage to outweigh sellers in the next 12 hours, TrumpCoin price could get the support needed to flip the $0.008863 mark into support. This could clear the way for the meme coin to potentially rally as high as $0.011831 in the near term.
On the other hand, if DJT is rejected by the $0.008863 barrier, the bullish thesis could be invalidated. Traders could start dumping their holdings in the meme coin, which could lead TrumpCoin price to test the recently breached $0.008048 price point. Continued selling pressure if the cryptocurrency falls to this level could put DJT at risk of a drop to $0.006453.
Technical data warns that TrumpCoin price could fall soon
Technical indicators on the 4-hour chart of DJT warn that the TrumpCoin price could fall in the next 24 hours. More specifically, the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) indicators are starting to show negative signs.
Over the past trading day, the RSI has climbed to 70. While this indicates the presence of bullish strength, it also indicates that TrumpCoin is overbought. Traders often consider high RSI readings as short entries because they suggest that a cryptocurrency’s downside potential is greater than its upside potential.
Meanwhile, the MACD line is bullishly positioned above the MACD signal line. However, the former has started to stabilize above the latter. This could indicate that DJT’s bullish momentum has stalled, which could be a precursor to a bearish trend reversal.
As TrumpCoin price attempts to flip another major resistance level into support, investors are rushing to buy. 99 Bitcoins (99 btc) for potential gains of 100X.
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Know more: https://t.co/paXgFYqidstwitter.com/hashtag/99Bitcoins?src=hash&ref_src=twsrc%5Etfw”>#99Bitcoins twitter.com/hashtag/crypto?src=hash&ref_src=twsrc%5Etfw”>#Cryptocurrencies twitter.com/hashtag/Web3?src=hash&ref_src=twsrc%5Etfw”>#Web3 twitter.com/hashtag/btc?src=hash&ref_src=twsrc%5Etfw”>#btc
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Buy and stake 99 btc here.
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