Official Trump Price Shows Signs Of A Likely Rebound

The TRUMP price chart is displaying a strong bearish trend, with price action continuously declining within a descending wedge pattern.

The price of Official Trump (TRUMP) dropped 14% in the last 24 hours to trade at $13.08 as of 11:41 p.m. EST on Monday.

The drop in the TRUMP price comes after US President Donald Trump said that steep tariffs on Canadian and Mexican products are indeed coming next week.

“The tariffs are going forward on time, on schedule,” Trump said in a press conference with French President Emmanuel Macron at the White House on Monday.

Trump: "We were taken advantage of. We were led by, in some cases, fools…. Tariffs are going forward." pic.twitter.com/f02XbiAdja

— Mr Producer (@RichSementa) February 24, 2025

The TRUMP price has now declined more than 70% from its all-time high of $44.44, which was set on Feb. 13.

The Official Trump price plunged 14% in the last 24 hours to trade at $13.08 as of 11:41 p.m. EST on trading volume that surged 140% to $1.3 billion.

This drop in the TRUMP price comes after US President Donald Trump said that steep tariffs on Canadian and Mexican products are indeed coming next week.

“The tariffs are going forward on time, on schedule,” Trump said in a press conference with French President Emmanuel Macron at the White House on Monday.

Trump: "We were taken advantage of. We were led by, in some cases, fools…. Tariffs are going forward." pic.twitter.com/f02XbiAdja

— Mr Producer (@RichSementa) February 24, 2025

The Official Trump price shows signs of a likely rebound

The TRUMP price chart is displaying a strong bearish trend, with price action continuously declining within a descending wedge pattern. The Official Trump price has now broken below the lower trendline of this wedge, suggesting a possible further drop.

However, the breakdown from the wedge is typically a bearish signal, but given that descending wedges often lead to reversal patterns, there is still a possibility of a bounce-back if key support levels hold.

The recent Official Trump price action around $13.08 suggests the market is testing lower levels for potential liquidity before deciding on the next move, according to GeckoTerminal data.

The 50 and 200 Simple Moving Averages (SMAs) on the 1-hour chart are trending downward, confirming the bearish sentiment. TRUMP is currently trading well below both, reinforcing the downtrend.

Moreover, the Relative Strength Index (RSI) at 29 shows that the asset is oversold, which could lead to a short-term relief rally.

If the RSI starts turning upward while the price remains steady or forms a bullish divergence, there could be an attempt at recovery.

TRUMP price prediction: where next for the meme token?

In the short term, the price of TRUMP is likely to continue facing downward pressure, with potential support around $12.50-$13.00.

If the Official Trump price stabilizes and the RSI shows strength, a bounce toward the $15.00-$16.50 zone (previous support-turned-resistance) could occur.

However, if sellers remain dominant, further decline toward $10.00 is possible.

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