TRUMP Price Surges 11% Amid Tuttle Capital’s Leveraged ETF Filing as Bulls Target $38 High
Highlights:
- TRUMP price jumps 11% to $30.01 with $3.9B in trading volume.
- Tuttle Capital filed for ten 2x leveraged ETFs, including one based on Official Trump.
- ETFs may launch by April, signaling possible SEC flexibility.
The Official Trump price has pumped 11% in the last 24 hours to trade at $30.01 as of 5 a.m. EST on a 13% trading volume surge to $3.9 billion. This surge in the price of TRUMP has come hot on the heels of a Delaware-based filing by Tuttle Capital for ten 2x leveraged ETFs, including one on the Official Trump and Melania Meme tokens.
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Tuttle Capital files for 10 leveraged #crypto ETFs, including $TRUMP and $MELANIA #memecoins — pic.twitter.com/4myvOnE8E4
— CryptOpus (@ImCryptOpus) January 28, 2025
The funds will give investors double the daily return of the underlying assets, thereby increasing potential gains and exposure to risk. Beyond the Trump tokens, the filing from Tuttle contains ETFs for the cryptocurrencies XRP, Solana, Litecoin, Chainlink, Cardano, Polkadot, Bonk, and BNP. This makes Tuttle the first U.S. asset manager to propose some of those assets’ leveraged ETFs, such as Chainlink, Cardano, and Polkadot, in a sign of growing interest in crypto-focused financial innovation.
The leveraged ETFs filed under the 40-act framework could start trading as early as April unless the SEC blocks them. Also, according to Balchunas, the Dogecoin and TRUMP ETFs that were previously filed by REX Shares have not been withdrawn, which could indicate some softening from the SEC regarding crypto-based ETFs.
Official Trump Statistics
- Trump Price: $30.01
- Market Capitalization: $5.8 billion
- Trading Volume: $3.9 billion
- Circulating Supply: 200 million
- Total Supply: 1 billion
Official Trump Price Rebounds on a Strong Support Level
The TRUMP/USD chart shows the sudden shift in momentum from an extended bearish trend. Price had been trading in a bearish channel, creating a succession of lower highs and lower lows until strong support was found around the $26 level. This support zone was strong enough to attract buyers who could force a breakout from the downward channel.
It later reached $28.88, breaking above the 50-period SMA at $27.76, already acting as key support. However, the closest resistance is around the 200-period MA of $29.18. A successful breach past this could validate the continuation of the bullish momentum toward the next potential higher level of around $32.
The RSI is at 50.84, which indicates neutrality in momentum. This shows that the market is neither overbought nor oversold, and further upside is possible if the buying pressure increases for the Official Trump price. The MACD indicator has shown a bullish crossover, with the MACD line standing at 0.4106 above the signal line of -0.1704, reflecting a positive trend.
Momentum Weakens, But Bulls Could Still Take Control
However, the weakening momentum mixes in with some cautious optimism in the equation. Clearly, volume is an added important layer to this analysis because the noticeable spikes higher at the breakout signal strong buyer interest. For the bulls to take full control, the price needs to close above the $29.18 resistance, with volume targeting $38.
On the downside, if the price loses steam and slips below support at $27.76, a retreat to retest the $26 level might still be very important for safety. Traders will have to patiently monitor the price movement and key levels to confirm the next trend.
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Charles Kibue
Charles Kibue is a cryptocurrency researcher and writer with published works on Crypto2Community and a range of other sites. He has also worked as a technical writer, researching NFTs and crypto projects. Charles is an English Literature graduate residing in Kenya. He possesses additional expertise in market analysis and offers accurate and reliable insights, staying up-to-date with the latest developments in the crypto industry. Beyond his professional pursuits, Charles enjoys hiking and horse riding in his leisure time.
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