The Official Trump (TRUMP) memecoin rose 3.15% in the past 24 hours to trade near $1.90, with trading volume surging 25% to $281 million, according to data from CoinMarketCap. Despite the short-term rally, the token's broader market structure remains bearish, having broken down multiple key support levels over the past six months. Traders are now watching whether bulls can push the price above the critical $2.27 resistance level to confirm a trend reversal.
Price action and key levels
On the daily chart, TRUMP continues to trade below its 200-day Exponential Moving Average (EMA), forming a bearish lower-high and lower-low structure since its launch. The memecoin has lost support at $4.67, $2.73, and $2.27 over the past six months, indicating persistent selling pressure. However, the token is currently finding support from an ascending trendline that has been in place since June 5, 2026. If TRUMP holds above this trendline, it could continue to gain upward momentum. A breakout above the $2.27 resistance, which has acted as a significant hurdle since May 2026, would be needed for a major rally. Conversely, a break below the ascending trendline could lead to a new low in the coming days.
The Average Directional Index (ADX) has fallen to 19.13, indicating weak trend strength. This suggests that the current price momentum is likely to fade, adding bearish pressure on the upside.
Bullish sentiment among traders and investors
Despite the bearish chart structure, derivative data shows strong bullish sentiment. On Binance, the TRUMP Long/Short Ratio reached 2.02, meaning long positions outnumber shorts by more than two to one. Key liquidation levels are at $1.85 on the downside and $1.96 on the upside, where traders have built $4.08 million in long positions and $2.95 million in short positions, according to CoinGlass. This positioning reflects a clear bullish bias among traders.
Investor sentiment also appears bullish. Data from TRUMP's Spot Inflow/Outflow metric shows that over the past 24 hours, approximately $102,990 worth of TRUMP tokens moved out of exchanges, indicating potential accumulation by long-term holders. This outflow supports the view that some market participants are betting on further upside.
In summary, while TRUMP's overall trend remains bearish, short-term momentum and trader positioning suggest a possible push toward the $2.27 resistance. A successful breakout could shift the market structure, but failure to hold the ascending trendline may lead to renewed downside.