Author
Simon Chandler
Author
Simon Chandler
Share
The TRUMP price has crept up to $11.24 today, with the meme token continuing to consolidate around a lower level after dropping by 12% in the past seven days.
Its current price also represents a 14% decline in a fortnight, and while the token is up by 3% in a month, it remains down by 85% in relation to its all-time high of $73.43.
This paints a discouraging picture of where the TRUMP price could be heading in the coming weeks, with the coin’s chart also looking negative today.
Indeed, with TRUMP’s price falling below the triangle formed by recent highs and lows, it’s possible that the token could sink further before it recovers.
Trump Price Prediction as Symmetrical Triangle Breaks Down – How Quickly Can TRUMP Crash?
As we see with the chart below, things could have been very different for TRUMP, if it had maintained the momentum that saw it break out of the triangle pattern it had formed since the end of April.
Yet after a surge ending on May 22, it actually began to drop below this triangle pattern, and is now well below it.
Its relative strength index (purple) has struggled to maintain a position above 50 in the past week or so, and despite a slight rise since the beginning of the month, it still isn’t particularly strong.
It’s a similar story with regards to the 30-period average (orange) which fell below the 200-period (blue) at the end of May and doesn’t look like rising anytime soon.
This means that we can expect the TRUMP price to fall to $11 again (or a little lower) in the next few days, although it could begin recovering by the weekend.
As for the longer term picture, the coin’s lack of fundamentals and utility makes it hard to recommend, yet its association with Donald Trump could mean that it enjoys a few more pumps between now and the end of the year.
Last month witnessed the dinner for the coin’s 220 biggest holders, and while it has fallen substantially since then, we can’t rule out the possibility of Trump himself doing something else to boost the coin.
As such, it could potentially reach $14 in the next few weeks, and $30 by the end of Q3.
Fresh Gains with Brand New Altcoins
Given how limited TRUMP’s utility appears, it may be wise for investors to diversify into newer tokens with real-world use cases and stronger fundamentals.
With the market flooded by new launches—both promising and questionable—a good indicator of long-term potential is whether a project has conducted a successful presale backed by genuine demand.
Big presales can be an indication of market interest in a new coin, and probably the biggest presale coin right now is Solaxy (SOLX), a Solana-based layer-two cryptocurrency.
It has raised an astonishing $43.5 million in its sale, with investors excited by its plans to launch Solana’s first L2 network.
As an L2 platform, Solaxy will deliver low transactions fees and quick confirmation times, making entry into the Solana ecosystem cheaper and more efficient for traders.
It will provide instant bridging between itself and Solana, while it’s also developing its own decentralized exchange, making trading easier for investors.
And as its native token, SOLX should see considerable adoption, given that it will be the only way of paying for transaction fees.
The coin’s sale ends in 14 days, so newcomers should act fast if they want to join it, which they can do so by visiting the Solaxy website.
The coin is selling at $0.001744, with its hugely successful sale suggesting that it could rise much higher once it lists.
