Date: Wed, May 21, 2025 | 02:30 PM GMT
The cryptocurrency market is heating up. Bitcoin (BTC) has smashed past the $108K level, and Ethereum (ETH) has soared over 56% in the last 30 days to trade above $2,550 — its highest in recent months. This strong momentum is spilling over into memecoins, and Official Trump (TRUMP) is one of the hottest names right now.
The token has already posted impressive monthly gains of over 72%, and all eyes are now on it as the highly anticipated “Trump Dinner” is scheduled for tomorrow. The top 220 holders of the TRUMP meme coin have been invited to a private gala dinner with former U.S. President Donald Trump — a headline-grabbing event that has fueled excitement across the crypto community.
And now, the charts are flashing bullish signals that could hint at even more upside.
Symmetrical Triangle Breakout
TRUMP has broken out of a symmetrical triangle pattern on the daily chart — a technical formation that had been compressing the price for weeks. The breakout follows a strong bounce from the ascending support trendline near the $12.15 mark, which also aligns with support from the 100-day moving average.
Today’s move saw TRUMP climb above the triangle’s descending resistance line near the $14 level. This confirms a breakout and suggests that bullish momentum could be building once again. From here, the token might experience a brief retest of the breakout zone before making a sustained move higher.
What’s Next for TRUMP?
If the breakout retest is successful, TRUMP could begin targeting the next key resistance levels at $16.43, $17.80, and $22.80. This would represent potential upside gains of around 53% from the current price of $14.58.
The upcoming Trump Dinner could serve as a strong fundamental catalyst, driving further price action and attracting more investor attention. However, this event could also introduce volatility, especially if market participants opt to take profits during or after the dinner.
As of now, TRUMP is in a technically bullish position. A successful retest followed by continued momentum could solidify the breakout and lead to a new rally in the days ahead.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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