TRUMP Coin Price Falls Amidst Political Uncertainty
TRUMP Coin Price Plummets
The TRUMP meme coin has experienced a sustained downtrend over the past month, failing to surpass the $21.45 resistance level. Earlier this week, the token dipped below $12 before recovering slightly following a political clash between US President Donald Trump and Ukrainian President Zelensky. Despite an 8% increase today, technical indicators suggest ongoing bearish pressure.
Bearish Sentiment Persists
Investor sentiment towards TRUMP remains largely negative. While recent political events briefly spurred some buying activity, overall momentum is weak, indicating a lack of confidence in a near-term price recovery. Negative sentiment surrounding political conditions is likely to deter new investments, potentially exacerbating the price decline.
Source: Santiment
Technical Analysis Shows Weakness
Technical indicators confirm the negative market sentiment. The Chaikin Money Flow (CMF) indicator reveals a clear downward trend, failing to hold above the zero line. This signifies a shift from inflows to outflows, reflecting weakening investor confidence. Without a significant market shift or bullish trigger, downward pressure is expected to continue.
Source: TradingView
Further Price Declines Possible
TRUMP recently hit a low of $11.07, a significant drop from previous levels. While it has partially recovered to $13.12 at the time of writing, it remains below the crucial $14.48 resistance. Continued bearish momentum, potentially fueled by political factors such as Trump's tariff policies, could push the price even lower. The next potential support level is $11.07; a breach could lead to a drop below $10.00.
Source: TradingView
While a breakout above $14.48 seems unlikely in the near term, positive broader market developments could offer some relief. In such a scenario, TRUMP might attempt to establish support at $16.00, but it would likely face resistance at $21.45.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Market conditions are volatile. Conduct thorough research and consult a professional before making any investment decisions.
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