- The memecoin sector has performing poorly of late.
- The deep retracement TRUMP made over the past week has not yet begun to heal.
Official Trump [TRUMP] has gained 12% in the past 24 hours, and its trading volume has increased by 14.36% in the same period.
It has surpassed the local resistance level at $28, but might not be ready to scale the $30 resistance zone yet.
Bitcoin [BTC] was able to defend the local support level from its range formation, but the memecoin sector has suffered over the past month.
It was unclear when Official Trump would be ready for a recovery, but at press time the accumulation has only just restarted.
Evidence for TRUMP accumulation
Source: TRUMP/USDT on TradingView
TRUMP has traded within a range that reached from $24.58 to $31.37 over the past two days. This came after a deep retracement from $74. However, the consolidation within the range was not bad news for the bulls.
The OBV saw an uptick in recent trading hours. Its move beyond the mid-range level was accompanied by a bullish crossover on the Awesome Oscillator. However, a few more days of consolidation could be ahead.
Breakout traders must curb their enthusiasm and be prepared for rangebound price action. To the north, the $32.3 was a significant lower high that defined the downtrend.
A 2-hour session close above this level would flip the market structure bullishly.
The liquidation heatmaps agreed with the rangebound prediction
Source: Coinglass
The 2-week lookback period liquidation heatmap highlighted three key resistance zones overhead. TRUMP bulls can expect opposition at $30.77, $32.42, and $35.7.
Given the short-term upward momentum, it was likely that the $30.77 and potentially the $32.42 level near the range high would be swept.
Source: Coinglass
The 24-hour liquidation heatmap also showed that there was a strong likelihood that TRUMP would gravitate toward $30.7 in the coming hours. Hence, traders already in long positions can look to take profits.
Read Official Trump’s [TRUMP] Price Prediction 2025-26
Swing traders could look to short a rejection from $32.4, but must be extra cautious and assume less risk than usual.
With BTC having some short-term bullishness, Official Trump might jump to $35 to hunt liquidity before falling back into the range.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
