Hello everyone, I am Brother Chen. Now let's talk about the latest developments and guidelines for TRUMP.
The recent trend of TRUMP coin is quite critical, the daily chart is testing the neckline support at 8.25 USD — this is the key level for the bearish head and shoulders pattern. If the daily closing price falls below this, it is likely to drop by 13% to 7.50 USD. However, the price has recently touched the lower Bollinger Band, which has often rebounded in the past, indicating a potential oversold bounce in the short term.
Looking at the momentum indicators, the RSI is only 39, below the neutral line of 50, and the MACD is still in the negative zone, indicating that bears clearly have the upper hand, but oversold signals are faintly emerging. Remember the key price levels: support is at 8.25 USD (neckline), followed by 7.50 USD (technical support), and 7.00 USD is the psychological defense line; resistance is at 8.95 USD (20-day moving average), and if broken, look at 9.50 USD (50-day moving average), with 12.00 USD as the subsequent breakout target.
The long and short game can be divided into three scenarios: if there is a rebound from oversold conditions, it must stabilize above 8.3 USD and RSI must return above 50, with targets potentially reaching 9.20 to 10.50 USD, with a probability of 30%; the most likely scenario is range-bound fluctuations, with a 50% probability of moving between 7.30-8.95 USD, facing pressure at 8.95 and holding at 7.30; if it falls below 7.30 USD or if large whales concentrate on selling, it could plummet to 7.00 or even 6.68 USD, with a probability of 20%.
Finally, let's talk about Brother Chen's operational guidelines: it is recommended to go long near 8.398-8.315 USD, with the first target at 8.565 USD, and if broken, look upwards to 8.735 USD. Remember to manage risks well, do not be careless. #TRUMP