The official Trump stock price hovers around the $8 level.
The trading volume of Trump stock has increased by more than 55%.
Cryptocurrency markets have started to emerge, experiencing losses across the board. As the market remains neutral, price movements are still unclear. Bitcoin (BTC), the largest asset, hovers around $113,000, while the largest altcoin, Ethereum (ETH), trades at $4,200. Notably, the official Trump currency (TRUMP) recorded a loss exceeding 4.63% in its price.
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Trump opened today’s trading at a high price range of $8.86, and as sellers pushed the price down, it fell to a low of $8.32. Furthermore, a strong breakout could stimulate a recovery, while a price collapse may lead to further losses. According to CMC data, at the time of writing this report, the official Trump price was trading within a range of $8.43.
With a market cap of $1.69 billion, the daily trading volume of Trump stock increased by more than 55.7% to reach $473.63 million. According to Coinglass data report, the market saw an official liquidation of Trump stock worth $1.68 million during this period.
Is the Trump stock price heading towards a new decline?
The official Trump stock Moving Average Convergence Divergence (MACD) line is below the signal line, and both have crossed below the zero line. This indicates that the current market momentum is weak, reinforcing the bearish trend.
TRUMP chart (Source: TradingView)
Additionally, the Chaikin Money Flow (CMF) indicator for Trump stock has settled at -0.24. This indicates selling pressure in the market, though not overly bearish. This negative value suggests more capital is flowing out of the asset than in.
The asset shows a bearish trend on the four-hour chart. A formation of a red candle may push Trump stock to retreat and find nearby support at $8.37. A prolonged loss could exert more pressure on the downside, triggering a death cross that may lower the price to $8.31.
Assuming the official Trump currency price shows green on the chart, this indicates a bullish trading pattern. The price may rise and test the first resistance level at $8.49. Strong bulls may trigger a golden cross, pushing the currency to trade at $8.55 or higher.
The daily Relative Strength Index (RSI) for Trump currency is at 32.39, close to the oversold area. This level indicates the potential for a trend reversal or buying opportunities. If it falls below 30, the price is undervalued. Furthermore, the Bull and Bear Power (BBP) reading at -0.33 indicates that sellers currently dominate. If the value remains negative, it confirms weakness.
