- OFFICIAL TRUMP is trading near the $4.90 level.
- The market shows indecision, not a clear downtrend.
A 2.96% loss in the market has brought indecision across the crypto tokens. With a choppy price movement, the charts are painted in blood red. The sturdy bearish pressure is constantly gaining more traction day by day, sending the asset’s momentum down. Meanwhile, OFFICIAL TRUMP (TRUMP) has posted a 2.51% drop in value.
The asset has seen fluctuations, forming highs and lows, attempting to enter the green zone, but ended up facing rejections. In the early hours, it traded at a high range of $5.04, and as the bearish command took over the TRUMP market, the price fell to a bottom level of $4.89.
The CoinMarketCap data has reported that the OFFICIAL TRUMP is currently trading at around the $4.90 mark. With the market cap resting at $980.27 million, the daily trading volume of the token has plunged by 5%, likely reaching the $133.09 million mark.
More Downside Ahead for OFFICIAL TRUMP?
OFFICIAL TRUMP’s both Moving Average Convergence Divergence (MACD) line and the signal line are stationed below the zero line, which indicates bearish momentum. It is showing weak price strength, and a potential trend shift occurs only if the lines start moving back above the zero line.
In addition, the Chaikin Money Flow (CMF) indicator positioned at 0.15 suggests strong buying pressure in the TRUMP market. The capital is flowing into the asset, hinting at accumulation rather than distribution. The higher the value stays above, the stronger the underlying demand signal.
The four-hour trading of the OFFICIAL TRUMP reports a bearish outlook, with the price retracing to the support range at $4.84. Further loss might trigger the formation of the death cross, and gradually, the bears could pull the price back below the $4.78 mark.
Assuming the asset’s price enters the bullish zone, it could immediately climb to the resistance at the $4.96 level. With extended upside pressure, the golden cross is expected to take place, and the bulls would drive the OFFICIAL TRUMP price toward $5.02 or even higher.
The daily Relative Strength Index (RSI) at 43.36 signals neutral to slightly bearish sentiment. TRUMP is not overbought or oversold, reflecting mild weakness. A move above 50 improves momentum, while a drop to 30 brings in selling pressure. Furthermore, OFFICIAL TRUMP’s Bull Bear Power (BBP) reading of -0.050 implies slight bearish dominance in the market. This points to indecision rather than a strong downtrend.
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Source: https://thenewscrypto.com/official-trump-trump-struggles-at-4-could-a-dip-toward-former-lows-be-imminent/
