Official Trump (TRUMP), a meme-based cryptocurrency, surged over 10% following its listing on Upbit, South Korea’s largest crypto exchange. The new trading pairs—TRUMP/KRW, TRUMP/BTC, and TRUMP/USDT—have renewed market optimism.
Official Trump (TRUMP), the meme coin associated with U.S. President Donald Trump, experienced a significant price increase of over 10% after its listing on South Korea’s leading cryptocurrency exchange, Upbit.
The platform now supports TRUMP in trading pairs with KRW, BTC, and USDT. This development follows earlier listings on major exchanges such as Binance and Coinbase. Initially, TRUMP’s price soared above $70 shortly after its launch last month, reaching a market capitalization of approximately $14.5 billion.
However, it faced a subsequent decline, with its market cap currently below $3.5 billion. The recent Upbit listing has renewed optimism among analysts, with some predicting a short-term price increase to the $35–$40 range. This event underscores the significant impact that major exchange listings can have on the valuation and market perception of meme-based cryptocurrencies.
TRUMP has experienced a strong rally in recent months, reaching a peak of $78 on January 19 before entering an extended corrective phase. The price decline has followed a structured correction, characterized by a series of lower highs and lower lows, indicative of weakening momentum. However, recent developments suggest a potential shift in trend dynamics.
A descending wedge pattern has formed on the chart, a classic signal of trend exhaustion that often precedes a bullish reversal. The current price action is hovering near a significant support region between $14.65 and $16.65. Notably, the Relative Strength Index (RSI) is beginning to recover from oversold territory, hinting at a possible momentum resurgence.
Despite these encouraging signs, TRUMP must first reclaim $19.65, a strong horizontal resistance level, to confirm a bullish turnaround. If the price fails to hold above this zone, further consolidation or a retest of the lower support at $14.50 could be on the horizon. The sustainability of an upward move depends on maintaining levels above this critical support region.
Zooming into the lower timeframes, TRUMP appears to be forming the early stages of a potential new bullish wave cycle. The recent rally to $18 marks what could be wave (i) of a five-wave impulse structure. This was followed by a retracement, with price action currently testing the Fibonacci 0.5 retracement level at $16.26—an area commonly associated with corrective wave (ii) pullbacks.
If this emerging wave structure remains valid, the next leg higher (wave iii) could target the 1.618 Fibonacci extension at $21.47. Following this, a minor corrective dip in wave (iv) might set the stage for a final push in wave (v) toward $22.79.
However, a failure to hold above $15.28—the 0.786 Fibonacci retracement level—would invalidate this bullish outlook, potentially leading to another test of the broader support zone at $14.65. For the upside scenario to gain traction, TRUMP must decisively break above $19.65, which would confirm that wave (iii) is in progress and increase the likelihood of further gains.
The RSI, which had previously been overextended, has now reset and shows signs of a potential rebound. This suggests that bullish momentum could reemerge, provided the price structure remains intact.
Nikola Lazic, a crypto analyst since 2017, leverages Sociology and Elliott Wave Theory to provide actionable insights through his trading, investing, and content expertise.