The cryptocurrency market is showing renewed strength this October, a month historically known for bullish momentum. Over the past seven days, Bitcoin (BTC) and Ethereum (ETH) have both surged by more than 10%, lifting overall market sentiment. Riding this recovery wave, several memecoins are flashing early bullish signals — and Official Trump (TRUMP) is one of the notable among them.
TRUMP has shown modest weekly gains, but its technical structure suggests that a larger move may be just around the corner.
Falling Wedge Pattern in Play
On the daily chart, TRUMP appears to be forming a falling wedge — a pattern that typically signals a reversal or upcoming bullish breakout once price escapes the upper resistance line.
Recently, TRUMP’s correction drove its price down toward the wedge’s lower boundary near $7.41, a key support level that has repeatedly held strong. Following this retest, TRUMP staged a sharp rebound, climbing back to around $8.00, just beneath the wedge’s upper boundary.
Meanwhile, the 200-day moving average (MA) — currently around $9.86 — acts as a major resistance zone, one that bulls will need to clear to confirm a breakout and shift market sentiment decisively in their favor.
What’s Next for TRUMP?
If buyers manage to break above the wedge resistance and sustain momentum beyond the 200-day MA ($9.86), TRUMP could trigger a strong bullish continuation, potentially driving prices toward $15 — representing an upside potential of over 86% from current levels.
Such a move would not only end the months-long consolidation but could also attract fresh inflows from momentum traders, further amplifying the rally.
However, if the breakout attempt fails, TRUMP could once again revisit the support region near $7.20, where bulls will need to defend the structure to keep the setup intact and prevent deeper correction.
For now, all eyes are on whether TRUMP can conquer its resistance and kick off the next major bullish phase.