TRUMP Reclaims Key SupportTRUMP has shown early signs of strength after reclaiming the higher-timeframe support around the $1.50 region. This reclaim is an important technical development, as it suggests buyers are beginning to regain control following an extended period of selling pressure. The focus now shifts to whether price can establish a solid base above this level.
Holding above $1.50 would increase the probability of a rotational move toward the next major high-timeframe resistance around $1.80. A sustained recovery from current levels could also trigger a short squeeze, as traders holding short positions may be forced to cover if bullish momentum continues to build. Given the aggressive nature of the preceding downtrend, even a modest shift in sentiment could result in a sharp relief rally.
However, for the bullish scenario to develop, trading volume must support the move. Strong volume would confirm genuine buying interest and improve the likelihood that the rally can extend beyond the initial resistance. Without increased participation, the recovery risks becoming another temporary bounce within the broader trend.
For now, the technical outlook has improved following the reclaim of support. As long as TRUMP continues to hold above $1.50, the probability favors a move toward $1.80, with volume remaining the key factor that will determine whether the recovery develops into a sustained bullish continuation.
Long
