Donald Trump's new meme coin, OFFICIAL TRUMP (TRUMP), has surged 268% in value in a single day, boosting its market cap beyond $14 billion and placing it in the top 20 cryptos. However, signs of overbought conditions suggest a looming correction.
Technical indicators show TRUMP's Relative Strength Index (RSI) at a high 98.88, indicating heavy buying and potential price reversal. Additionally, increased volatility, measured by a 6.20 Average True Range (ATR), points to possible price swings.
Analysis predicts a drop to $31.64 if correction occurs, with a worst-case target of $15.58. Conversely, further coin accumulation could reach new highs, negating bearish trends.
