Price prediction: TREMP, USA, RUNE and JUP

The political winds are stirring, and the markets are buzzing with anticipation as the US Presidential Elections loom on the horizon. But that's not all - we're also examining RUNE's resurgence and a potential bullish breakout in JUP.

Whether you're a seasoned trader or a curious observer, this analysis will arm you with the insights you need to navigate the choppy waters of election-season crypto. Are you ready to discover which coins might skyrocket and which ones to approach with caution?

Let's dive in

Key questions

• TREMP: Is this politically-charged token gearing up for a pre-election rally? Find out why our analysts are eyeing a specific accumulation zone.
• USA: Could this meme coin be the dark horse of the election season? Discover the potential breakout levels that savvy traders are watching.
• RUNE: Has this once-bearish token finally turned a corner? We reveal the key resistance levels that could signal a major shift.
• JUP: Is a retest of all-time highs on the horizon? Learn about the crucial support level that could make or break this token's trajectory.
• Election Impact: Which tokens are best positioned to capitalise on the upcoming US Presidential Elections?

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. 

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TREMP

• It's the same story as our last update, but with the addition of the $0.40 horizontal support, it seems to hold even stronger than we initially anticipated as support.
• We can see that price has been in a downtrend for all of June, with price breaking out of the downtrend in mid-July. However, price was halted at the horizontal resistance of $0.64.
• Price has now found and maintained horizontal support at $0.40, really hammering it out at a strong level.
• Volumes have been slightly better since early July, and they could keep up as we approach the US presidential Election.
• The major zone of support is likely to be between the two horizontal supports of $0.27 and $0.40. Therefore, this is the range in which we'd accumulate/add to our TREMP bags.

Cryptonary's take

As we move closer to the US presidential election in November, we expect TREMP to perform very well at some point. Therefore, we're looking to build a position in TREMP.

The area we have identified for this is between $0.27 and $0.40. We would layer orders between these levels, potentially giving us an average entry around $0.33, which has a 3x upside potential if price re-visits the $0.91 horizontal resistance.

We believe TREMP is good play for now, up until the US Presidential Elections in November.

TREMP/SOL price chart showing key support and resistance levels with recent price trends

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USA

• USA is a difficult chart to chart overall due to some crazy wicks.
• The coin has been in a long-term downtrend (long-term for memes) since the beginning of May. But price is starting to push closer towards the downtrend line where a squeeze and therefore a break out may eventually come.
• For now, price is battling at a key horizontal level at .015.
• If price can comfortably claim above .015, then .023, it would likely break out to .037. 037 is the next major horizontal resistance.
• Volumes have been slightly better in the last week, which is positive and supportive of higher prices. Substantial volumes are needed to see prices climb more drastically.

Cryptonary's take

Overall, it's tricky to see what the narrative for USA is other than the US Presidential Elections in November.

But then, you have to ask yourself, are you better off being in a play like TREMP, as that's more likely to react to Election news?

If price potentially pulls back to .008, then this play might be a high-risk/low-dollar punt. However, we would see it as a more risky play than TREMP, for example. But if you can get this at .008, and then price squeezes into the downtrend line, it might be worth a trade for a potential downtrend line breakout play.

USA SOL Price Chart Key Support Resistance Levels

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RUNE

• The last few months of price action have been pretty poor; however, RUNE doesn't look as bad here as it has for the last few months.
• RUNE has broken out of its main downtrend line, which is positive.
• In the short term, it has found resistance at the horizontal level of $4.78, which we have long identified as a key level.
• Currently, though, RUNE does sit on top of local support at $4.30, so it may be able to bounce from here and retest $4.78 if the wider market holds up.
• If RUNE can break above $4.78, the next target is $6.08.
• RUNE possibly re-visits the $3.38 horizontal support, but we think this can be a local bottom area.

Cryptonary's take

Overall, the setup is less bearish than what RUNE has been in recent months, so that's more positive for RUNE. However, just because RUNE looks less bearish than it in the recent past doesn't mean it's the opportunity to go for.

We do see better opportunities in the majors and also the bluechip memes (WIF and POPCAT), therefore our focus has been there rather than laggards such as RUNE. And with the price action we've seen, we've been proven right.

RUNE USDT Price Chart Key Support Resistance Levels

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JUP

• JUP also looks more positive from a technical analysis perspective.
• JUP has broken out of the main downtrend line, having built substantial enough support at the horizontal at $0.72.
• Price then found little trouble moving higher and breaking above the resistance of $0.91.
• Price has now pulled back and is retesting the previous resistance level ($0.91) as potentially new support. If it can hold this level, it would be bullish for JUP.
• Above the current price, the main horizontal resistance to break out above is $1.19. This is what would be needed to see a retest of all-time highs.
• To the downside, if $0.91 cannot hold as new support, we'd expect price to revisit the old support of $0.72.

Cryptonary's take

JUP looks more positive here, but it would look even more positive if the $0.91 area could hold as new support. This would help springboard JUP up to $1.19 if $0.91 can hold. While it can be argued that JUP is a nice diversifier play, we still prefer the barbell strategy.