1. Trend Overview (Bearish Channel Formation)
The chart shows a clear downtrend within a well-defined descending channel.
The price has been making lower highs and lower lows, indicating strong bearish pressure.
The channel is drawn with two parallel blue trendlines, with price action respecting both upper resistance and lower support.
A dashed median line in the center suggests that price frequently interacts with this level before continuing downward.
2. Current Price Action and Key Levels
The price is currently at 22.921 USDT, nearing the lower boundary of the channel.
The recent decline of 5.01% (-1.209 USDT) indicates strong selling momentum.
Resistance levels:
24.00 USDT (psychological round number and mid-range resistance)
26.00 USDT (upper trendline resistance, potential reversal point)
Support levels:
22.50 USDT (previous reaction level and lower trendline of the channel)
22.00 USDT (psychological level and possible breakdown zone)
3. Momentum and Strength
The chart shows strong bearish momentum, with sellers maintaining control.
No clear bullish reversal pattern is visible yet.
If price bounces from the lower trendline, a short-term retracement towards the median line is possible.
However, if it breaks below the channel, further downside could accelerate.
4. Potential Trading Strategies
Scenario 1: Short-term Long Entry (Countertrend Bounce)
If price reaches the lower boundary (22.50 - 22.00 USDT) and forms a bullish reversal candle, a short-term buy trade could be considered.
Entry: Around 22.50 - 22.00 USDT (if support holds)
Stop Loss: Below 21.80 USDT (in case of a breakdown)
Target: 24.00 - 25.00 USDT (median line or upper trendline resistance)
Scenario 2: Trend Continuation Short (Breakdown Trade)
If price breaks below 22.00 USDT with strong volume, the downtrend could extend further.
Entry: Below 22.00 USDT (confirmed breakdown)
Stop Loss: Above 23.00 USDT (invalidates breakdown)
Target: 21.00 - 20.00 USDT (new lows)
5. Key Considerations
Volume Confirmation: A spike in selling volume on breakdown could signal further downside.
Bitcoin and Market Sentiment: If BTC and the broader market are bearish, TRUMP/USDT may follow.
Risk Management: Given high volatility, proper stop-loss placement is crucial.
