Family, Brother Hao is here to talk to everyone about the latest market analysis and trading strategy for Trump Coin (TRUMP).
Recently, the fluctuations of this Trump Coin have been heavily influenced by multiple factors. Let's first discuss the key support and resistance levels. 8.40 is the dividing line for short-term bulls and bears. If the daily close falls below this price level, it could trigger technical sell-offs, and the next support level to watch will be 7.30, which means a potential decline of 13%. 7.30 is a historical strong support area; it had dropped to this point in April and then rebounded. If this support level is also broken, the price will likely accelerate downwards to 6.00.
Let's take a look at the resistance level; the position at 8.50 is very critical. Once it breaks through, it can open up space for a rebound, possibly rising to 10.10, which is an 18% increase. There's also the price level of 10.00, which is both a psychological barrier and an area of heavy selling pressure, having faced resistance here multiple times in March and April.
From the perspective of short-term speculation, everyone needs to closely monitor Trump's political dynamics, for instance, Eric Trump's visit to Japan in September to promote cryptocurrency matters, which may have an impact on coin prices. Additionally, the effectiveness of the support level at 8.40 is also crucial.
In the long term, I don't really recommend holding. Because 80% of the tokens for this coin haven't been unlocked yet, and the regulatory sword hangs high. Below 5 dollars is its normal value, so for those who don't have a high risk tolerance, it's best not to hold long-term.
Today, Brother Hao's trading strategy is to short around 8.350 - 8.430, first looking at the target price below of 8.251, and the further target looking towards 8.060. Everyone must be cautious while trading and ensure good risk control. I wish everyone can make money in the cryptocurrency world!
