$TRUMP Sharp Drop Followed by Bounce: Decision Point Ahead
$TRUMP is trading at $12.91, rebounding after a steep selloff that pushed price down to the $12.69 low. Despite the bounce, multiple resistance layers stand in the way, and traders are watching closely to see if recovery continues or fades again.
Key Levels to Watch:
• Resistance Zone: $13.20 – $13.40
A breakout above this zone could lead to renewed upside pressure toward:
• TP1: $13.60
• TP2: $13.90
• Support Zone: $12.80 – $12.60
If price loses support again, downside could accelerate toward:
• TP1: $12.40
• TP2: $12.00
Trade Setup: Bounce or Trap?
• Bullish Scenario: A confirmed close above $13.20 with volume strength could mark a reversal attempt.
• Bearish Scenario: Failure to hold above $12.80 could signal continuation of the downtrend.
• Stop-Loss Guidance: SL below $12.69 for longs; above $13.45 for shorts to limit risk.
Heavy volatility expected—stay alert for confirmation on the next move.