$TRUMP Token Crashes! Is $25 the Next Stop?
#TRUMP #trumpdownfall The Trump Token (TRUMP/USDT) is taking a significant hit, currently trading at $28.47, down 15.42% in the last 24 hours. Let’s break down the situation:
Price Action:
Trump Token has been in a steep decline, falling from a 24-hour high of $35.46 to a low of $27.29. The sharp bearish momentum is raising concerns about a potential drop to $25, a key psychological support level.
Indicators:
1. Bollinger Bands: The price is hovering near the lower band (28.05), signaling high volatility and strong bearish pressure.
2. Moving Averages:
MA(5): $4,948,646.072
MA(10): $5,337,907.184
Both MAs suggest that selling pressure dominates the market.
3. RSI: Near oversold levels, indicating that the bears are currently in control, but a bounce might be on the horizon.
Support & Resistance:
Support: $27.25
Resistance: $35.00
Trading Strategy:
For Bulls: Wait for confirmation of reversal patterns before entering. Keep an eye on RSI for potential recovery.
For Bears: Short positions can be considered if the price breaks below $27 with high volume, targeting $25.
Conclusion:
The Trump Token is in dangerous territory as the bears take control. Will the $25 level hold, or are we heading for deeper waters? Follow me for the latest updates and analysis!
Disclaimer: This post is for informational purposes only and not financial advice. Always do your research before investing.