Buzz from private event pushes Trump to $15 – but can a 70% rally really last?

Trump’s official [TRUMP] memecoin is making waves with its impressive upward momentum.

Memecoin prices surged more than 70% in a matter of days, hitting the crucial $15 mark. Exchanges also recorded $28.51 million in inflows, suggesting selling pressure is brewing.

Market Sentiment and Trump Price Momentum

Of course, the price surge comes on the heels of news that 220 of Trump’s largest shareholders may attend a private party with the president.

The announcement, which was originally scheduled for May 22, triggered the market to break through multiple resistance levels. At press time, Trump’s share price is hovering around $15, up 16.10% in the past 24 hours.

Due to its continued rise, trader and investor participation has also risen significantly, leading to a 45% increase in trading volume for the asset.

$28.51 million worth of Trump inflows

However, not all investors remain optimistic. On-chain analysis shows that some investors are taking profits, while others are doubling down on bullish bets.

In fact, the spot inflow indicator shows that $28.51 million worth of TRUMP flowed into exchanges in the past 48 hours.

A large inflow of funds into exchanges indicates a potential sell-off, which could create selling pressure and lead to further price declines. However, this is unlikely to happen given the current market sentiment.

Apart from this, traders seem confident and are strongly betting on the bullish side. At press time, long positions are worth $32.55 million, while short positions total just $6.36 million.

Moreover, traders are actively taking leveraged positions between $13.09 (support) and $15.19 (resistance).

Momentum favors bulls

Looking at the bets of traders, they seem to be consistently bullish and currently dominating the movement of memecoin. However, $15.19 seems to be a strong resistance level.

If this level is breached, trumpcoin could see a significant upside in the coming days.

On-chain metrics further show that the number of long traders outnumbers the short traders, which means there are more bullish trades in the market.

Moreover, traders continue to build more long positions, with open interest jumping 15% and the long/short ratio rising to 1.08, indicating strong bullish sentiment among traders.

Trump Price Action and Key Levels

According to AMBCrypto’s technical analysis, TRUMP is bullish and is approaching a key resistance level of $15.19 at press time.

This level has historically served as a strong support, but due to the tariff war, this support was breached and is now acting as a key resistance level that will determine the next move.

Based on the current price action and historical patterns, if memecoin breaks above the key level and closes the daily chart above $15.50, it could kick off a 35% upside momentum until the price reaches the $21.25 level in the coming days.

However, if the price stays below $15.50, the Trump price prediction could turn bearish.