Key Insights
- •TRUMP failed to break $8.48 resistance, triggering a sharp selloff and heavy daily volume.
- •Price now trades under EMA levels, signaling weakened short-term trend momentum.
- •Support at $7.78 holds for now—drop below could send price toward the $6.77 zone.
The TRUMP token faced a sharp pullback after hitting resistance in the $8.50 to $8.70 zone. This area has been a key level, acting as both support and resistance in the past. The latest move saw price briefly break into the range before falling back. A strong sell-off followed, with the token closing more than 12% lower on the day.
Cheds Trading described the move as a “strong rejection on that short setup.” The daily candle shows a long upper wick, pointing to failed attempts by buyers to hold higher ground. A descending trendline intersects near this zone, adding to the pressure.
Price Drops Below Key Moving Averages
TRUMP was now trading near $7.20. It has slipped below several short-term moving averages, including the EMA 8 and EMA 34. These are often watched for trend direction, and dropping beneath them may suggest growing weakness. The 200-day SMA remains above current levels and continues to weigh on the price.
Bollinger Bands show a clear rejection at the upper band. This kind of move often appears before short-term corrections. If the decline continues, the next key support sits between $6.30 and $6.50 — a range that acted as a base during past consolidation.
Intraday Action Shows Range-Bound Price
On the 30-minute chart, TRUMP surged from under $6 to a high near $8.48. Since then, price has moved sideways, forming a range between $7.78 support and $8.48 resistance. So far, the upper boundary has held through several tests, showing hesitation among short-term buyers.
Crypto analyst Johnny commented, “$TRUMP trading like CZ and Binance began max bidding after CZ’s pardon.” While no official link to Binance has been confirmed, the mention has drawn extra attention to the token. TRUMP’s volume remains elevated, with interest coming from both sides of the trade.
Levels to Watch Next
The current range between $7.78 and $8.48 is the short-term zone to watch. A clear break above $8.48 could lead to a move toward $9.55. On the downside, failure to hold $7.78 could open a drop to $7.31 or $6.77.
TRUMP was priced at $7.19, with a 24-hour volume of $1.79 billion. It has dropped 13.2% in the past day but is still up 22.5% over the last week.