TRUMP/USDT Price Analysis: Bullish or Bearish? ๐๐
TRUMP token has been quite volatile lately, making traders wonder: Will it pump again? ๐ Or is a deeper correction coming? ๐ Let's analyze the 4-hour chart and key technical indicators.
๐ Market Overview
๐น Current Price: $18.83 (+3.29%)
๐น 24H High: $19.61
๐น 24H Low: $18.09
๐น Trading Volume: 452.16M USDT
๐ Bearish Signals (Red Flags)
๐จ Price Below EMA 25 & EMA 99 โ The price is currently below the 25 EMA ($18.50) and far from the 99 EMA ($20.64), indicating weak momentum.
๐ Failed to Hold Above $24.58 โ The price reached a high of $24.58 but faced strong selling pressure, leading to a sharp decline.
๐ป Lower Highs Forming โ After the big pump, the price has been forming lower highs, which signals a possible downtrend.
๐ Weak Buying Volume โ The initial pump had strong volume, but now the market seems to be losing steam.
๐ Bullish Signals (Reversal Hopes)
๐ฅ Support Holding at $17.16 โ As long as TRUMP stays above this level, bulls still have a chance to push back.
๐ EMA 7 Acting as Immediate Support โ The price is hovering around EMA 7 ($18.87), meaning a breakout could happen if bulls step in.
๐ Break Above $20.57 Needed โ To regain bullish momentum, TRUMP must break above EMA 99 and hold above $20.57.
๐ฎ Conclusion: What's Next?
Short-term Bias: Neutral to Bearish โ ๏ธ unless TRUMP reclaims $20+.
Critical Support: $17.16 โ A break below this could push price to $14.27.
Bullish Breakout? If TRUMP breaks $20.57 with high volume, we could see another pump.
๐ข Final Advice: Keep an eye on the $17.16 support and $20.57 resistance before making any move. If volume picks up, we might see another rally, but if support breaks, a bigger drop is likely.
๐ Whatโs your take? Bullish ๐ or Bearish ๐? Letโs discuss! ๐ฅ