Technicals Suggest the Super Trump Price Could Soar to $0.019845

The Super Trump price has printed a series of higher highs and higher lows on the 1-hour chart throughout the past few hours, resulting in the formation of a positive price channel. Should this bullish trend continue, STRUMP might soon overcome a medium-term negative trend line on its charts.

This level is also confluent with the $0.017430 resistance level. As such, a break above this threshold might give the crypto a strong technical foundation to potentially rise to the next major obstacle at $0.018635 in the following couple of hours. In an extremely bullish scenario, the Super Trump price could soar to as high as $0.019845.

On the other hand, a rejection by the $0.017430 resistance could invalidate the bullish thesis. In this alternative scenario, the meme coin might record another lower high to continue to trade below the medium-term negative trend line.

Traders could then look to enter into a short position for the crypto, which might force the Super Trump price to the immediate support level at $0.015995. Continued sell pressure should the meme coin fall to this technical crutch could then lead to the Super Trump price falling to as low as $0.014560 in the short term. #STRUMP #Memecoins #MemeWatch2024
The full analysis and trade strategy were originally posted on ecoinimist.com.