The official Trump has seen noticeable volatility in recent days. The meme coin failed to break its resistance level at $ 16 despite a short bullish momentum last week.
Since then, Trump has faced a constant downward pressure, with the most important 24-hour collapse taking place today. At the time of writing, Altcoin traded at $ 11.08 – down 16% over the weekend.
Trump's entrepreneurs make the most of the collapse
Entrepreneurs look forward to a potential decline this week. The funding rate for the official Trump is deeply negative – this mostbearish has been in the last three weeks. This pattern shows that short sellers are highly active, positioning themselves to benefit from the token fall.
These entrepreneurs are likely to be enlarged in the fall. However, if the price recovers, handling short positions can lead to rapid losses. This creates a possibility for a movement move, with entrepreneurs seeking to reduce the risk, which potentially driving a rebound on Trump's price.
Despite today's steep collapse, Macro indicators show an optimistic view of investors. Chaikin Money Flow (CMF) remains positive, indicating the continued flow of capital. These signals feature that consumers are still dominant despite the recent weakness in the market.
CMF strength suggests that the broader sentiment in the market is not completely bearish. As long as Trump's CMF holds above zero, investors are likely to maintain faith in the long -term altcoin trajectory. This support from long -term holders can oppose short -term pressure from speculators.
Trump's price is safe
Official Trump is currently trading at $ 11.08 following a sharp 24 -hour decline of 16%. This collapse was that the meme coin failed to break above the important $ 16.00 resistance. The failed attempt leads to increasing sale pressure, driving the owner down.
However, Trump still holds above the critical $ 10.29 support level. This area serves as the final defense line before a potential slip below $ 10.00. If investors continue to return the owner, a recovery may be followed.
The reclaiming of $ 12.18 because the support will signal a change of strength and encourage further accumulation.
That said, the increased bearish sentiment in the broader crypto market can shield the investor confidence. Panic selling under these conditions can push the price below $ 10.29. In this scenario, the official Trump may fall to $ 9.11, which weakens the bullish thesis and expansion of the collapse.
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