- The TRUMP memecoin has been listed on SUN.io, TRON’s top decentralized exchange, offering a potential catalyst to reverse its 40% decline since April.
- With bullish technical signs emerging and increased exposure from the listing, a breakout from its descending channel could push the token toward the $20 mark.
The TRUMP memecoin has recently gained a significant new platform for trading after securing a listing on SUN.io, the leading decentralized exchange (DEX) within the TRON ecosystem. This move could provide the momentum the token needs to reverse its prolonged downtrend and attract fresh investor interest.
Since peaking at $16.44 in April, TRUMP has experienced a steady decline of over 40%, currently hovering near $9.44. Throughout this period, the token’s price action has been confined within a well-defined descending channel, a technical pattern signaling sustained bearish pressure. However, recent price behavior shows early signs that this downtrend may be losing steam.
A tentative bottom appears to have formed at around $8.25 on June 22, from which TRUMP staged a rebound marked by two higher highs. Importantly, after a pullback, the price managed to hold above the midpoint of the descending channel instead of dropping back toward its lower boundary. This technical formation hints at a possible shift toward bullish momentum, suggesting sellers are starting to weaken.
Further fueling optimism is TRUMP’s interaction with the channel’s upper resistance near $11.50–$12. While the token was unable to decisively break above this level during its mid-July rally, it notably pierced the upper Bollinger Band, an indicator often used to gauge momentum, closing above it for the first time since April’s peak. This move signals growing buying pressure and increases the likelihood of a breakout.
The SUN.io listing is timely because increased accessibility and liquidity on such a major TRON DEX can help TRUMP reach a broader audience of traders and investors. Enhanced exposure typically translates into higher trading volumes, which can be a critical catalyst for reversing negative price trends.
If TRUMP manages to sustain higher lows while building momentum from its new platform, the probability of breaking out of the descending channel’s upper resistance improves significantly. A confirmed breakout, according to technical analysis, could see the token target prices near $20, effectively doubling from its current levels.
While it remains premature to declare a full trend reversal, these technical indicators combined with the fresh listing on SUN.io offer encouraging signals. The listing may act as a crucial trigger for renewed interest in the TRUMP memecoin, potentially marking the beginning of a bullish phase after months of decline.
In conclusion, TRUMP’s listing on SUN.io could be the catalyst needed to shake off its bearish grip. With the token showing signs of a potential bottom and increased momentum, investors will be watching closely to see if it can capitalize on this new opportunity and break free from its downtrend toward higher price targets.