The Solana-based meme coin OFFICIAL TRUMP (TRUMP) is experiencing a significant recovery, with its value increasing by 6% in the last 24 hours, making it the market's top gainer. This surge has helped the coin break past a descending trendline that has kept it in a downtrend since January 20.
The recent breakout indicates a potential reversal from a bearish to a bullish trend as the selling pressure weakens and buyers gain control. Key indicators like rising On-Balance Volume (OBV) and a positive Balance of Power (BoP) suggest that demand for TRUMP is growing.
TRUMP is currently trading at $16.80, above its key support at $14.40. If this level holds, the meme coin's value could rise to $29.13, although a failed retest could lead to a drop to $14.27.