Trump Coin (TRUMP) has broken out of a prolonged consolidation phase, with its price surging 9.1% in the past 24 hours and 16% on the weekly chart, trading at $6.79 as of October 28, 2025. The rally is driven by positive developments in US-China trade relations, including an agreement to pause tariffs and resolve disputes over rare earth mineral supply chains and TikTok regulations. Presidents Donald Trump and Xi Jinping are expected to meet in South Korea to formalize the framework.
Despite TRUMP's gains, the broader cryptocurrency market remains bearish. Bitcoin (BTC) declined to $114,215, Ethereum (ETH) hovered around $4,100, and Binance Coin (BNB) and Solana (SOL) slipped to $1,132 and $202 respectively, all showing losses of 1-3% over the past day.
Technical indicators for TRUMP show bullish momentum, with the RSI cooling to 52.97 after briefly entering overbought territory and the MACD histogram displaying increasing green bars above the zero line. Key support is identified at $6.50, with upside targets at $7.00 and $8.00.
However, analysts have raised alarms about potential manipulation. On-chain data reveals coordinated activity by large wallets, with over $1 billion in trading volume in 24 hours. Analyst StarPlatinum highlighted a single institutional wallet receiving 900,000 tokens worth approximately $6.8 million from multiple addresses, suggesting non-organic buying. Tuixingdep described the move as a textbook narrative trap, noting that despite the spike, TRUMP's 30-day chart is still down about 7%, with no true reversal. Diane De Crypt speculated about insider-driven accumulation but emphasized uncertainty.
The chart structure shows TRUMP trapped in a descending wedge pattern, with the recent surge failing to break above resistance. Traders are advised to wait for a clear breakout with steady volume before considering entry, as the rally may be short-lived.
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