The Official Trump (TRUMP) token shows a downward trajectory, dropping almost 8% over the past week to trade near $9.35 at press time.

The token struggles to hold above critical support levels, facing resistance at the 20-day Exponential Moving Average ($10.82), as market participants eye an upcoming token unlock and broader questions circulate regarding motivations behind politically-linked crypto assets.

The Official Trump (TRUMP) token continues to show a downward trajectory, dropping almost 8% over the past week to trade near $9.35 at press time. The token is struggling to hold above critical support levels and faces resistance at the 20-day Exponential Moving Average ($10.82), as market participants are also considering an upcoming token unlock and broader questions around the purpose of politically linked crypto assets.

The bearish outlook is further amplified by the first round of TRUMP token unlockings, which are scheduled for April 17th. Approximately 40 million TRUMP tokens, valued around $372 million and representing 20% of the circulating supply, are set to be released.

🚨News: The first major token unlock for $TRUMP, the memecoin launched by U.S. President Trump, is scheduled for April 17. A total of 40 million tokens—worth $413 million and representing 20% of the circulating supply—will be released.

The Trump (TRUMP) token has slipped below the $10 support level, suggesting it could quickly drop towards $8, according to crypto analyst Ali Martinez.

If TRUMP loses the $10 support, it could quickly drop towards $8, suggesting it could quickly drop towards $8, according to crypto analyst Ali Martinez.

“If dumps continue, next support is at fib 1.618 at around $9.52. Failure to hold $10 could open the door for further downside towards fib 2.618 at around $8. If flips, fib 0.236 at around $12.51 offers resistance, followed by fib 0.382 at around $13.54 and fib 0.5 at around $14.46 on any rally attempt.”

According to Martinez’s shared chart (TRUMP/TetherUS perpetual contract), there is minor support at $9.50 after losing $10, with more significant support identified at $8.

Conversely, if $10 is reclaimed, resistance stands at $10.668 (recent high) and $11.10, per the chart.

The Fibonacci extension levels on the daily chart provide further potential price targets. If bearish momentum continues, the next major support lies near $8, aligning with Martinez’s analysis

Further downside could see TRUMP testing $7.67 (2.618 Fib extension), with more extreme targets at $5.82 and $4.67.

On the upside, immediate resistance is the $10 level, followed by $12.51 (0.236 Fib retracement). A breakout above $12.51 could signal a potential trend reversal.

The Relative Strength Index (RSI) at 35.13 signals that the asset is nearing oversold territory but has not yet confirmed a reversal. The RSI line’s gradient shows a slight increase in buyers, but trading volume remains moderate, suggesting that a strong bullish push is needed to shift the current trend.