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The Official Trump price pumped over 9% in the last 24 hours to trade at $18.63 as of 6:13 a.m. EST as investors go long on the political meme coin.
Despite the recent gain posted by the TRUMP price, the crypto still has some work to do to erase the more than 32% loss it suffered in the last 7 days.
Official Trump Price Breaks Above A Negative Trend Line
1-hour chart for TRUMP/USD (Source: GeckoTerminal)
The Official Trump price broke above a short-term descending trend line in the last couple of hours, and is now attempting to overcome the barrier at $19.11, GeckoTerminal data shows. Should the meme coin rise above this mark, it could clear the space needed to rise to the next major resistance level at $21.32.
However, a rejection from the $19.11 barrier in the next few hours could mark the end of TRUMP’s bullish move. Traders might start to cash in their profits from the crypto’s recent rally in this alternative scenario.
The potential sell pressure could then result in the Official Trump price testing the $17.19 support. Continued sell pressure might even lead to a plunge all the way down to $15.57.
Technicals Suggest The Official Trump Price Might Keep Climbing
Indicators on TRUMP’s hourly chart suggest the Official Trump price might keep climbing in the next few hours, with both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) showing bullish signs.
RSI readings have risen from 50 to the low 60s, which suggests buyers have grown stronger against sellers and have subsequently taken control of the Official Trump price.
What’s more, the positive slope of the RSI line could indicate that bulls are still accumulating strength. This could lead to a continued increase in the Official Trump price if buyers choose to capitalize on their advantage.
Meanwhile, the MACD line is currently positioned bullishly above the MACD Signal line. Traders often see this alignment as an indication that an asset is in a positive trend. The gap between the two lines has also started to grow in recent hours, which could be interpreted as a sign that TRUMP’s bullish momentum is intensifying.
As the Official Trump price tries to keep its bullish move going, a Solana meme coin rival called Solaxy (SOLX) has raised over $18 million through its blockbuster presale.
The strong ICO performance comes amid a series of bullish predictions made by leading crypto experts. Among them is an analyst from 99Bitcoins, a popular crypto YouTube channel with over 724K subscribers, who says SOLX has the potential to soar 100X after its launch.
The First Scaling Solution For The Solana Network
Solaxy aims to climb the crypto ranks by positioning itself as the first layer-2 scaling project that is focused on the Solana network. Known for its high speeds and low fees, Solana has become the network of choice for developers looking to capitalize on the hype around meme coins.
Developers continue to deploy new tokens on the Solana network on a daily basis as talk of a 2025 meme coin supercycle starts making the rounds. This has led to high levels of congestion on the Solana network, which exposes the blockchain to the risk of another outage.
If something does not change soon, the influx of new SOL-based meme coins could very well lead to more downtime for the Solana blockchain.
This is where Solaxy comes in. The project will provide the Solana mainnet with some much-needed additional computational resources. This extra computing power will run in parallel to the Solana network, and will batch transactions off of the Solana layer-1 chain. After grouping transactions, Solaxy will then call the Solana mainnet for finalization.
This approach will increase the transaction throughput of the Solana network and reduce congestion levels on the main chain.
In addition to scaling Solana, Solaxy will also bridge the Solana and Ethereum networks. This will create a super Web3 ecosystem that will be able to meet the growing demands of decentralized application and meme coin developers.
Investors Rush To Buy SOLX During Presale
Solaxy’s presale has already raised $18 million in early-stage funding in about seven weeks.
Selling for $0.001626, SOLX can be purchased via the simple buy widget embedded on the project’s website using either crypto or bank card. After acquiring tokens, investors can also stake their SOLX for a 224% APY on offer to presale buyers.
Buy SOLX here before a price hike in about 43 hours.
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