- 40M TRUMP tokens unlocked, equal to 20% of circulation, boosting liquidity and raising nearterm price volatility concerns.
- TRUMP price broke Bollinger resistance at $8.38; MACD confirms bullish momentum with short term target at $9.60.
- Falling wedge breakout shows long term TRUMP target of $18.83, supported by rising volume and wedge resistance flip.
The TRUMP token on Solana saw a major supply unlock on Friday, April 19. According to data from Cryptorank, 40 million tokens were released, accounting for 4% of the token’s total supply.
These newly unlocked tokens represent approximately 20% of the current circulating supply and are reportedly allocated to team wallets and Trump affiliated entities. At press time, the TRUMP was trading at $8.54, an 11.87% gain in 24 hours.
Although the token is up 4.68% over the past week, it has dropped by 24.83% in the last month. The release has introduced fresh liquidity, which could influence short term market activity.
Volume Spike and Key Technical Levels
Market cap is up by 12.05% to $1.71 billion, while 24 hour volume surged by 67.89% to reach $660.54 million. This represents a volume to market cap ratio of 37.98%, indicating elevated trading activity.
The fully diluted valuation now is at $8.56 billion, with 199.99 million tokens in active circulation. From a technical level, price recently broke out above the 20 period Bollinger Band mid line at $7.83.
It also breached the upper band at $8.38, indicating short term strength. The widening of the bands supports a growing trend direction. Current resistance is at $8.68, while critical support lies at $7.27.
MACD Confirms Momentum as Bulls Take Charge
The MACD indicator shows strong bullish momentum. The MACD line at 0.11 has moved above both the signal line at 0.05 and the zero line. This configuration generally confirms increasing positive momentum.
The token’s recent performance also shows upward continuation as long as price holds above $8.38. If momentum persists, the price could rise toward $9.40–$9.60 by April 20. However, failure to maintain this level may bring support at $7.80 into play.
Long Term Breakout and Price Expectations
According to analyst Captain Faibik, the long term chart structure formed a falling wedge, with a breakout confirmed by volume expansion.
The breakout target points toward $18.83, suggesting a 134.60% potential rise from the wedge base. Support levels are visible between $6.00 and $6.50, where the token previously consolidated.
Resistance aligns with the breakout target near $18.80. Price has moved above the wedge pattern, with increasing volume supporting the reversal. TRUMP trades just below the short term resistance. Whether current momentum sustains or faces renewed sell pressure, it is to be seen.
