🚨 $TRUMP /USDT Market Analysis – January 23, 2025 🚨
📊 Current Price: $37.20 (-12.90%)
TRUMP token has experienced significant volatility in the last 24 hours, dropping by 12.9%. It is trading at $37.20, with a 24h high of $42.82 and a low of $36.00. The trading volume is substantial, with 33.87M TRUMP tokens exchanged, equivalent to $1.32B USDT.
Key Levels to Watch
Support Levels: $36.00 and $34.50
Resistance Levels: $40.00 and $42.80
$TRUMP is testing key support at $36.00 after a sharp decline. A recovery above $40.00 could signal a return to bullish momentum, while further downside may see it retest $34.50.
Technical Indicators
Moving Averages (MA/EMA): The short-term moving averages suggest bearish momentum, with the price far below key moving average levels.
Bollinger Bands: TRUMP is trading at the lower end of the Bollinger Bands, indicating oversold conditions and potential for a bounce.
RSI: The RSI is at 35, signaling oversold territory, which could attract buyers.
MACD: The MACD is deeply bearish, reflecting strong selling pressure, but a slowdown in momentum is visible.
Price Outlook
Short-Term Target:
If TRUMP rebounds from $36.00, it could retest resistance at $40.00-$42.00. A breakout above $42.80 may push the price toward $45.00.
Mid-Term Target:
Sustained recovery could drive TRUMP toward $50.00, while failure to hold $36.00 may lead to further downside, with the next major support at $34.50.