1. Price overview:
Current price: 11.84 USDT
Daily change: +13.96% (strong rise)
Highest price in the last 24 hours: 12.35 USDT
Lowest price in the last 24 hours: 10.30 USDT
Trading volume:
TRUMP: 23.70 million
USDT: 276.24 million
2. Technical analysis:
Relative Strength Index (RSI): 49.08
RSI is close to 50, indicating that the currency is not in overbought or oversold territory, and it is currently in a balanced position.
MACD Indicator:
DIF: 0.27 | DEA: 0.29 | MACD: -0.02
The lines are crossing in a slight downward direction, indicating a potential temporary correction or a decline in upward momentum.
The price shows a corrective movement after a strong rise, and it is currently trying to maintain a support level near 11.80 USDT.
3. Support and resistance:
Strong support level: 11.12 USDT (if the price drops, it may be a good buying area)
Nearby resistance level: 12.35 USDT (breaking this level may push the price towards the previous peak at 12.47 USDT)
Advice and recommendations:
1. Monitor before buying: The price may be in a correction phase, so it's better to wait for confirmation of the upward movement before entering.
2. Gradual profit-taking: If you are already in a buy position, you may consider taking some profits at current levels or at 12.35 USDT.
3. Caution against reversals: If the price breaks below 11.12 USDT, it may decline further towards 10.64 USDT.
4. Proceed with caution: Being a "Meme" currency, its movements can be fast and unpredictable, so use stop-loss orders to protect capital.
My opinion:
The currency has shown strong upward movement, but it is now in a correction phase, and it may return to rise if the price stabilizes above 11.80 USDT. However, caution is advised as currencies of this type often experience rapid fluctuations.