Technicals Show the Super Trump Price May Soar to $0.019845

Table of Contents

The Super Trump price plunged over 21% over the past week, and currently trades at $0.01741 at press time.

Over the past 24 hours, the STRUMP price was able to reach an intraday high of $0.01845. However, it has since corrected more than 3%.

The Super Trump Price Challenging A Medium-Term Negative Trend Line

The Super Trump price has printed a series of higher highs and higher lows on the 1-hour chart throughout the past few hours. This has resulted 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.

Also read: Dogecoin Price Could Undergo an Explosive Rally Soon!

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. This might force the Super Trump price to the immediate support level at $0.015995. Continued sell pressure should it fall to this technical crutch could then lead to the Super Trump price falling to as low as $0.014560 in the short term.

Technicals Shows Bullish Strength

Technical indicators on STRUMP’s 1-hour chart suggest that the Super Trump price might have the bullish backing needed to keep climbing. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flagging bullish.

Also read: ICP Crypto Poised for Reversal? Key Levels to Watch!

The MACD line is breaking away above the MACD Signal line. Not only does this suggest that the Super Trump price is in a bullish cycle. It could indicate that the meme coin’s bullish momentum is growing stronger as well.

Meanwhile, the RSI line is positioned well above its Simple Moving Average (SMA) line. Traders generally see this as a sign that a crypto is showing bullish strength, and that buyers have the upper hand against sellers. However, the RSI has started to slope negatively, which suggests that bulls’ strength has diminished slightly.

Nevertheless, the Super Trump price overcoming the negative trend line and the $0.017430 resistance might see it surging to as high as $0.019845.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Author

Steven Walgenbach

Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations.

View all posts