The TRUMP memecoin, which has seen some significant ups and downs recently, just secured a new listing on SUN.io, the leading decentralized exchange (DEX) in the TRON ecosystem. This move could serve as a much-needed catalyst for the token, which has been stuck in a downtrend since its peak in April.
TRUMP’s Struggles and Recent Price Action
After hitting a high of $16.44 in April, TRUMP has seen a significant drop, losing over 40% of its value and now trading around $9.44. The memecoin has been moving within a descending channel that has defined its price action since that April peak. However, there are signs that the tide may be starting to turn.
In mid-July, the price made an attempt to rally but struggled to break above the resistance level near $11.50–$12. After this, it pulled back below the $10 mark. However, during this pullback, TRUMP briefly pierced the upper Bollinger Band at the channel’s upper trendline and closed above it for the first time since its April high. This development hints at a potential shift toward bullish momentum and the possibility of a breakout in the near future.
A Possible Bottom and Bullish Indicators
On June 22, TRUMP found what may have been a bottom at $8.25, and since then, the token has formed two higher highs, indicating that selling pressure might be easing. The latest pullback didn’t drop to the channel’s lower boundary but instead stopped at its midpoint, which is a positive sign for the token’s price action.
While it’s still early to call for a full reversal, these technical signals, combined with the new listing on SUN.io, point toward a possible shift in sentiment. If TRUMP can continue to form higher lows and gain momentum from the increased liquidity and exposure provided by SUN.io, the token may finally break out of its descending channel.
What’s Next for TRUMP?
A confirmed breakout above the channel’s upper resistance would be a bullish signal, with the measured move from the pattern suggesting a potential upside target of around $20. If this breakout happens, it would mark a significant shift from the months of downtrend that have defined TRUMP’s price action.
In conclusion, while TRUMP has struggled since its April high, the new listing on SUN.io and recent price action show early signs of a bullish reversal. If the memecoin can maintain momentum and break above the upper resistance level, the path to a $20 target could be in sight.
