OFFICIAL TRUMP has experienced significant volatility in recent days. The meme coin failed to overcome the resistance level of $16, despite a brief bullish momentum last week.
Since then, TRUMP has faced persistent downward pressure, with the largest 24-hour drop occurring today. At the time of writing, the altcoin is trading at $11.08 — a decrease of 16% over the weekend.
TRUMP Traders Maximize on the Decline
Traders anticipated a possible decline this week. The funding rate for OFFICIAL TRUMP was deeply negative — the most bearish it has been in the last three weeks. This pattern indicates that short sellers were very active, positioning themselves to profit from the token's fall.
These traders likely capitalized on the downturn. However, if the price recovers, holding short positions could lead to quick losses. This creates an opportunity for a strategy shift as traders now seek to reduce risk, which could contribute to a recovery in the price of TRUMP. Despite today’s sharp decline, macroeconomic indicators point to an optimistic outlook among investors. The Chaikin Money Flow (CMF) remains positive, indicating continued capital inflow into the asset. This bullish signal underscores that buyers still dominate, despite the recent market weakness.
The strength of the CMF indicates that the overall market sentiment is not entirely bearish. As long as the CMF for TRUMP remains above zero, investors are likely to maintain faith in the long-term trajectory of the altcoin. This support from long-term holders may counteract short-term pressure from speculators. The price of TRUMP is secure.
OFFICIAL TRUMP is currently trading at $11.08 after a sharp 24-hour decline of 16%. This drop was caused by the meme coin failing to break above a critical resistance level of $16.00. The unsuccessful attempt led to increased selling pressure, resulting in the asset's decline.
However, TRUMP is still holding above the critical support level of $10.29. This area serves as the last line of defense before a potential drop below $10.00. If investors continue to support the asset, a recovery may occur.
A return to the support level of $12.18 will signal a recovery of strength and encourage further accumulation. Given this, heightened bearish sentiment in the broader crypto market could shake investors’ confidence. Panic selling under such conditions could push the price below $10.29. In that case, OFFICIAL TRUMP could drop to $9.11, weakening the bullish thesis and continuing the decline.#BinanceSquare #Write2Earn #TRUMP #Binance #crypto $TRUMP