Official Trump (TRUMP) has had a rocky road lately. After hitting a peak of around $12.5 on March 15, it dropped to $11.19, marking a decrease of over 10%. This decline has left many traders wondering what’s next.
As Mondays often bring market volatility, they can significantly impact the week’s price movement. Recent analysis of TRUMP shows it might be forming a trading range below $12.2, according to liquidation heatmaps from AMBCrypto.
Looking at recent trends, the price fell from $13.88 to $9.54 earlier this month. Using Fibonacci retracement levels, analysts noted that the crucial 61.8% level sits at $12.22, acting as resistance recently.
Current Insights:
- The overall market sentiment is that buying pressure is weakening. The On-Balance Volume (OBV) indicated that selling activity is rising.
- Support seems solid around $10.20, which could be tested again. If it fails to hold, the next targets could be around $9.54 and $8.52.
- The market recently showed some signs of stabilization. The choppiness index dropped, signaling a trend may be developing, though the Directional Movement Index (DMI) suggests a bullish trend remains since March 13.
A look at the liquidation heatmap shows strong liquidity down to the $10.9 to $11 range, indicating potential price pull toward these levels. Areas around $12.5 to $12.7 could also attract prices if momentum shifts, but this seems less likely in the immediate future.
On social media, traders are anxious but also optimistic, sharing strategies and predictions for TRUMP’s next moves. Many are closely watching whether the price holds at support levels or if it will sink to lower targets.
In sum, TRUMP’s short-term outlook remains uncertain. The next few days will be crucial for determining if it can rebound or if a deeper dive is ahead.
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