Recent technical analysis indicates that the Solana-based Trump memecoin may experience significant growth. Analysts are also highlighting risks for other major cryptocurrencies.
Can Trump's Memecoin Rise by 138%?
Analyst Ali Martinez reveals that Trump memecoin is currently in a bullish formation, supported by the TD Sequential indicator on a weekly basis. If it maintains its current support, the memecoin could see an impressive increase of around 138%. The essential breakout point is highlighted at $11.96; exceeding this could propel prices to approximately $17.94.
Potential Decline of Ethereum to $1,200
The analysis regarding Ethereum projects immediate risks, indicating that a nearly 19% decline could take its price down to $1,200, marking a new support level. Currently valued at around $1,485, the recent bearish trends have prompted market participants to proceed with caution.
Support Levels to Watch for Chainlink
When examining Chainlink, the analysis points to its recent drop below a key ascending trend line, suggesting a potential decrease of up to 34%. Here, levels around $10 and $7.50 are highlighted as crucial support zones for investors to monitor. Currently trading at $11.41, Chainlink seems to be looking for short-term support.
As market dynamics shift, traders must keep a vigilant eye on technical indicators. The developments surrounding Trump's memecoin, Ethereum, and Chainlink present both opportunities and risks for market participants.
