Is a Deeper Pullback Coming?

• OFFICIAL TRUMP is hovering at the $3 level.
• TRUMP’s trading volume is up by over 41%.

The price trajectory of the OFFICIAL TRUMP (TRUMP) is trending downward, with a 4.08% loss noted over the last 24 hours. It is currently trading in the $3.71 range. The lowest and highest trading levels are observed at $3.67 and $3.95, respectively. 

Moreover, the market cap of TRUMP has touched $860.65 million, and the trading volume is up by over 41.95% to $295 million. As per the reporting of Coinglass, the market has seen a liquidation of $2.04 million worth of OFFICIAL TRUMP.

If the bearish takeover intensifies, with the formation of strong red candlesticks, the OFFICIAL TRUMP price might fall and find support at $3.58. An extended downside correction could trigger the formation of the death cross, and it will likely send the price lower, below $3.47.  

With the OFFICIAL TRUMP price reversing the momentum bullish, it could rise and test the resistance at the $3.78 range. A further upward pressure would gain more power and invite the golden cross to unfold, and eventually, push the price to trade above the $3.89 level.

OFFICIAL TRUMP Momentum Check: Breakout or Breakdown Next?

The OFFICIAL TRUMP’s Moving Average Convergence Divergence (MACD) line is below the signal line but above the zero line, which shows an uptrend with weakening momentum. It can hint at consolidation within a broader upward move.

Besides, the Chaikin Money Flow (CMF) indicator of TRUMP at -0.08 implies mild selling pressure. The money is flowing out more than in, and the sellers have a small edge. This value points to sideways movement, unless selling pressure increases further.

TRUMP’s daily Relative Strength Index (RSI) at 47.52 sits below the neutral level, exhibiting a slight bearish lean. The buyers and sellers are fairly balanced, but the market is consolidating. Notably, if it drops further below 45, it is building downside pressure. 

Furthermore, the Bull Bear Power (BBP) reading of OFFICIAL TRUMP at -0.282 infers moderate bearish pressure. It is pushing the price below its average level, and there is a clear downward bias. A move on the downside increases selling strength, while a move back to zero eases the pressure.

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