- TRUMP’s price holds support at $2.78 after a technical double-bottom.
- The whale population increases ahead of the April 25 Mar-a-Lago event.
- The price of memecoin can target $3.34 if the support holds.
The official Trump (TRUMP) symbol is starting to show signs of life after several weeks of constant pressure, with the price of the stock holding above the most effective level.
While the momentum was weak, recent trends suggest that major investors are quietly settling in ahead of this month’s highly-anticipated move.
At the time of writing, TRUMP was trading at around $2.81, posting a small daily gain and a marginally better performance. Bitcoin (BTC)which has remained smooth.
Technical support leads to cost-effective returns
The recent bounce can be closely traced to the well-known support area around $2.78, creating a double-bottom pattern and giving traders a clear place to settle in the short term.
In particular, after testing the support level, the price stabilized and began to rise, meaning that buyers are entering the market.
This type of performance is often driven by market conditions rather than new developments.
Repeated tests of support are often seen as confirmation that a floor has been established and, in this case, $2.78 has become the floor price.
As long as TRUMP is holding above this support, his outlook remains stable.
A steady move below it, however, would weaken the setup and open the door to the downside near $2.44.
The abundance of whales creates a sense of calm
Along with the introduction of technology, the continuous accumulation of large shareholders helps to support the market.
In recent days, multiple wallets have been increasing their exposure to TRUMP, often moving tokens through exchanges and keeping them private.
This practice is often associated with long-term placement, as it reduces the pressure to sell quickly with the signals they want to catch.
In particular, this collection coincides with the upcoming event that will be held on April 25 at Mar-a-Lago for holders of major TRUMP tokens.
The Mar-a-Lago event has created a special demand, which, although it may not be sustainable in the long term, can still provide a significant boost to the value of the brand in the short term.
TRUMP price outlook: Narrow path to $3.34
With support holding and bullish demand, interest is now moving to the next level on the chart, which is $3.34.
However, a move to $3.34 would require continued stability above $2.78, as well as enough buying pressure to push the small barriers along the way.
And at the moment, the setup shows a market that is stable but slightly tilted to the upside, and the eyes are almost bullish.
It is also worth noting that the indicator remains very deep, since it lost a large part of its value last year, which means that any movement can be watched carefully until a strong confirmation appears.
