Crypto expert Master Ananda has made a highly optimistic forecast for the TRUMP coin, suggesting it might soar to $79, which would mark a new all-time high (ATH). Utilizing the Elliott Wave Theory, the analyst identified crucial milestones for the meme coin and provided insights into how it could achieve this new ATH.
Path to a $79 Recovery for the TRUMP Coin
In a post on TradingView, Master Ananda shared that the TRUMP coin is expected to recover to $79 during the Wave 5 phase of the Elliott Wave pattern. He mentioned that this phase will entail a significant correction, which will then lead to a higher low formed within a larger context. He also noted that this higher low could spark a rally that eventually establishes a bull market phase and a new ATH, targeting $79.35.
Regarding the current performance of the TRUMP coin, Master Ananda indicated that the higher low has been established, setting the stage for a higher high. He claimed that the coin would face little resistance until reaching $25.35. However, he cautioned that a pullback could occur after hitting this target, similar to events following April 26. This pullback is expected to conclude at a higher low, which will further support the upward movement.
Following any retracement, the analyst anticipates that the TRUMP coin will maintain its upward momentum and potentially reach $34.61. He emphasized that market movements are rarely linear and that patience will be vital as the meme coin aims for higher peaks. Master Ananda suggested that investors should hold rather than frequently buy and sell at various target prices.
From a broader view, he indicated that the price targets of $25, $34, and $43 will be surpassed during the third wave of the ongoing bullish surge. After this upward impulse, the TRUMP coin is expected to experience a wave 4 retracement. Once this phase is concluded, the meme coin is projected to ascend to the $79 goal in wave 5.
Future Prospects for the Meme Coin Post-ATH
Master Ananda mentioned that a long-term correction, commonly referred to as a bear market, is likely to occur for the TRUMP coin following its rise to a new ATH. Nonetheless, he noted that this upcoming bear market is not expected to be as severe as the previous cycle. Compared to the downturn of 2022, he believes that this next phase will be “quick and minor.”
He expressed confidence that the TRUMP coin and the wider cryptocurrency market are poised for nearly a decade of significant growth. The analyst advised investors to concentrate on long-term gains. In line with this perspective, Master Ananda encouraged accumulation of the meme coin, as the current low prices are unlikely to last long.
As of now, the TRUMP coin is trading around $14.30, reflecting a more than 3% increase over the past 24 hours, based on data from CoinMarketCap.
