Official Trump has joined the list of cryptos that Binance users can loan or use as collateral to borrow other assets, adding a new layer of utility that could bolster the TRUMP coin price outlook.
That said, market participants do not appear to be buying the news on the announcement, with the meme coin falling 3% since.
TRUMP remains 40% below its late-May peak following the presidential dinner for top holders, struggling to regain traction.
Still, the testament from Binance Loans could refocus attention on fundamentals, introducing potential utility that could increase demand beyond short-term speculative trading.
Binance Adds TRUMP as Loanable Asset on Binance Loans (Flexible Rate) and VIP Loan
https://t.co/MQRUA83Pso
— Binance (@binance) January 24, 2025
Trump Coin Price Analysis: Could New Utility Push a Major Breakout?
The Trump Coin price may be gearing up for a revival, as early bullish signals emerge on lower time frames during a retest of a falling wedge pattern forming since late April.
The RSI has made a sharp rebound to 32 after reaching deep oversold territory at 25—often a signal that buyers stepping in as sellers reach their point of exhaustion.
More so, the MACD line is nearing a golden cross above the signal line, a classic bullish reversal pattern that typically precedes a short-term uptrend on the 4-hour timeframe.
The TRUMP coin price is currently testing key support around $9.30—where the wedge’s lower boundary meets a historical price floor and the 0.236 Fibonacci retracement level.
A successful reversal from this confluence zone could trigger a move toward the upper trendline of the wedge, putting the 0.382 Fibonacci level at $10.70 in focus as a breakout zone.
If bulls gain control and a breakout follows, the falling wedge structure sets up a technical target of $16.50—a potential 77% move back to late-May highs.
Still, if $9.30 fails to hold, the next support rests at $7.15, around 22% below current levels, aligning with the mid-April market bottom and invalidating the bullish setup.
While Altcoins Struggle, Bitcoin Season Just Got a Whole Lot More Bullish
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