Crypto analyst Master Ananda has made an ultra-bullish prediction for the TRUMP coin, predicting it could rally to $79, a new all-time high (ATH). The analyst used the Elliott Wave Theory to outline key targets for the meme coin and how it will witness this recovery to a new ATH.
How The TRUMP Coin Will Witness A Recovery To $79
In a TradingView post, Master Ananda stated that the TRUMP coin will witness a recovery to $79 on Wave 5 of the Elliott Wave structure. He remarked that Wave 5 will lead to a strong correction, which will lead to a higher low based on the broader structure. The analyst added that this higher low will resume to produce an advance that will end up in a bull run phase and a new ATH, with the target being $79.35.
Commenting on the TRUMP coin’s current price action, Master Ananda stated that the higher low is in, and this will lead to a higher high. He asserted there will be no resistance as the coin moves until it reaches $25.35. The analyst warned that a retrace is likely after reaching that target, just like what happened after April 26. This retracement will end in a higher low, and the higher low will produce a continuation of this upward trend.
After the retracement, the crypto analyst predicts that the TRUMP coin will continue its rally and eventually hit $34.61. He noted that the market never moves straight up or down, so patience is key as the meme coin eyes a rally to new highs. Master Ananda advised market participants to simply hold rather than buy and sell at each target.
Meanwhile, from a broader perspective, he stated that the three targets of $25, $34, and $43 will be taken out as part of the third wave of the current bullish impulse. Following this impulsive move to the upside, the TRUMP coin will witness a retracement on the wave 4 move. Once the wave 4 move is done, the meme coin will rally to the $79 target on wave 5.
What’s Next For The Meme Coin After ATH
Master Ananda stated that the long-term correction known as the bear market will come for the TRUMP coin after the rally to a new ATH. However, he remarked that the next bear market won’t be as bad as the previous one. Compared to the 2022 bear market, the analyst claims that the next one will be “fast and small.”
He asserted that the TRUMP coin and the broader crypto market are set for an entire decade of mainly growth. The analyst told market participants they can’t go wrong if they focus on long-term growth. In line with this, Master Ananda said that investors should be actively accumulating the meme coin as this low price won’t be available for too long.
At the time of writing, the TRUMP price is trading at around $14.30, up over 3% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
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