OFFICIAL TRUMP Falters at $12.00 Resistance As Bearish Trend Takes Hold

TRUMP/USDT Price Analysis – July 29 

A promising rally is cut short as sellers dominate, pushing the price into a downtrend with indicators pointing to further weakness.
The OFFICIAL TRUMP token’s recent attempt to establish a bullish trend has been decisively rejected at a key resistance level, leading to a sharp reversal and putting sellers firmly in control. The market has since entered a clear short-term downtrend, erasing recent gains as it retreats towards the lower end of its long-standing trading range.

TRUMP Key Levels

Support Levels: $6.10
Resistance Levels: $12.00, $16.20

OFFICIAL TRUMP Long-Term Trend: Bearish (Daily Chart)

The daily chart for TRUMP/USDT continues to illustrate a market defined by a wide and choppy trading range. A rally that began in early July showed promise but was ultimately stopped at the $12.00 resistance zone. This failure to break higher has led to a significant pullback, reinforcing the neutral, range-bound nature of the market on a macro scale.
Currently trading at $9.43, the price is now under the control of sellers, who are pushing it back towards the major support floor at $6.10. The recent price action confirms that while bulls may attempt rallies, bears are still aggressively defending the upper boundaries of the range, giving the market a near-term bearish bias.

The Relative Strength Index (RSI) is trading at 42.68, below the neutral 50 mark, indicating that bearish momentum is currently stronger than bullish momentum. Furthermore, the Percentage Price Oscillator (PPO) has printed a bearish crossover, with the histogram turning negative. This is a clear signal that the previous upward momentum has dissipated and a corrective trend is now in place.

TRUMP Short-Term Trend: Bearish (4-Hour Chart)

The 4-hour chart provides a detailed view of the current downtrend. After peaking near $12.00 around July 21st, the price has established a clear sequence of lower highs and lower lows. Trading at $9.43 with a loss of -1.77%, the price is consolidating near its recent lows, with sellers showing no signs of relinquishing control.

The immediate trend is unequivocally bearish. The path of least resistance is to the downside, with sellers likely to target the major support level at $6.10 if the current downward pressure is maintained. Any minor rallies are likely to be viewed as selling opportunities by traders following the short-term trend.

Make money without lifting your fingers: Start using a world-class auto trading solution 

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.