Support is completely lost, trend reversal
Trump (TRUMP) coin has consecutively broken through two key support levels in the past week, drawing strong attention from the market. Previously, $13.65 was seen as a short-term defensive line for bulls, but the market failed to hold. With $11.56 also breached, the overall trend has completely turned bearish.
Bearish pressure, rebound fails
After breaking below $11.56, TRUMP coin briefly rebounded but soon faced resistance, forming a 'support turned resistance' reversal signal. This trend highlights the dominance of sellers, and the rise at the end of April has been confirmed as just a pullback in a bearish trend.
Technical signals have completely turned bearish
From the daily chart, the RSI has fallen below the 50 midline, indicating that market momentum has turned downward. Meanwhile, the price rebound failed to break through the previous 78.6% retracement level of the decline, meaning that the current situation is not the starting point of a new upward cycle, but part of a continued retracement structure.
Next stop: $9 threshold
Technical charts show that the $9.08 to $9.54 range is the next potential support area. This area has previously absorbed buy orders multiple times, indicating short-term bottoming potential. However, the OBV (On-Balance Volume indicator) has continued to decline over the past ten days, suggesting that selling pressure is still increasing, and the bearish trend may further extend.
Operating advice: Proceed with caution
On the 4-hour chart, the price trend continues to weaken, and selling pressure shows no signs of easing. For traders already holding short positions, the $9 area is a potential profit-taking point. For swing traders, it is important to focus on the price action in this area to determine if there is a stage rebound opportunity or signals to continue shorting.
