TRUMP Rises 13%, But Indicators Point to Risk of Correction
The cryptocurrency TRUMP recorded a 13% increase in the last 24 hours, standing out as one of the assets with the highest appreciation in the market. However, technical market analyses signal the existence of potential correction risks. The moving average (MA) indicators reveal a bearish crossover, with short-term averages (20 and 50 days) below the long-term average (100 days), suggesting an increase in selling pressure.
The position-weighted funding rate in the derivatives market shows negative values, indicating a predominance of sellers. The spot market witnessed consecutive sales for two days, totaling 5.56 million TRUMP, equivalent to approximately 4.41 million USD. The liquidity heat map reveals multiple liquidity clusters below the current price, which could attract price drops to liquidate leveraged positions. In summary, despite the recent appreciation of TRUMP, several indicators suggest the possibility of an imminent price correction.
