- OFFICIAL TRUMP is trading around the $8 zone.
- Daily trading volume has declined by 47%.
With the mixed sentiment across the crypto assets, their prices have been moving sideways, lighting up both green and red candlesticks. The largest assets like Bitcoin (BTC) and Ethereum (ETH) are hovering at the downside, hitting a wall. Among the altcoins, OFFICIAL TRUMP (TRUMP) has registered a 6.66% drop.
In the early hours, TRUMP traded at a high of $9.05, and gradually, after the entry of bearish power, the price plunged to a low of $8.24. As per CMC data , the OFFICIAL TRUMP is currently trading within the $8.38 level, with the market cap reaching $1.67 billion.
Moreover, the daily trading volume of the asset has decreased by over 47.81%, touching the $714.68 million mark. The Coinglass data has reported that the market has witnessed an event of liquidation of $2.44 million worth of OFFICIAL TRUMP in the last 24 hours.
Is There More Downside for The OFFICIAL TRUMP?
The Moving Average Convergence Divergence (MACD) line is stationed below zero, and the signal line is above zero. The longer-term trend of OFFICIAL TRUMP is slightly positive or neutral. This indicates weak bullish attempts within a broader bearish zone.
TRUMP chart (Source: TradingView )
Besides, the Chaikin Money Flow (CMF) indicator of TRUMP is located at 0.10, suggesting a mild buying pressure in the market, with the money flowing into the asset. The value is relatively weak, and the demand is present but not overwhelming.
OFFICIAL TRUMP’s daily Relative Strength Index (RSI) found at 46.41 hints at its neutral territory with a slight bearish bias . It is balanced between buyers and sellers, and the market could move in either direction. Additionally, the Bull Bear Power (BBP) reading of TRUMP resting at -0.14 specifies that the bears are dominant in the market, not extreme.
The OFFICIAL TRUMP price could fall back to the support range at around $8.31 with the bears in command. Further correction on the downside might trigger the emergence of the death cross, and it would pull the price back to the $8.24 range.
Assuming the token takes a bullish turn, the TRUMP price could rise toward the nearby resistance at the $8.45 level. With the continuous upside correction, the golden cross might take place, which will likely take the asset’s price above $8.52.
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