Can #TRUMP Hit $77 Again?

$TRUMP has suffered a major crash, wiping out nearly 90% of its value. The price is hovering around $10.52

Can #TRUMP Hit $77 Again?

TRUMP Token Drops 90% – What’s Next?

After a massive rally, TRUMP has suffered a major crash, wiping out nearly 90% of its value. The price is now hovering around $10.52, and traders are keeping an eye out for any signs of a potential rebound or further decline.

As the dust settles on the cryptocurrency market's recent adventures, we find ourselves at a pivotal moment in the saga of TRUMP. Having scaled dizzying highs of $77, this token has since experienced a substantial downturn, crashing by 90% to reach its current price of $10.52.

With the price action unfolding at an electrifying pace, traders are diligently scanning the charts for any telltale signs that might hint at the direction of the next major move.

As we delve deeper into the technical analysis, we can identify two crucial resistance levels that will determine whether recovery is possible. The first resistance zone lies at $11-$12, a level that could pose a significant challenge for the bulls.

If the price manages to break through this barrier, we might see a continuation of the upward trend, potentially opening the door for a rally towards $11.20-$11.50. However, if the bears manage to defend this zone and lower the price, we can expect further declines, setting the stage for a test of the support at $9.80.

The fate of TRUMP is being decided in a critical consolidation phase, where the token is pacing to no avail within a tight range. The market participants are eagerly awaiting its next move, keeping a close eye on two key levels that will determine the direction of the trend.

If the price manages to break out of the current consolidation and rise above the resistance at $10.85, we can expect an upside move towards the next resistance level at $11.20 or even higher.

On the other hand, if the bears manage to push the price below the support at $10.04, we can anticipate a continuation of the downward trend, setting the stage for a retest of the support at $9.80.

The technical indicators are providing mixed signals, with some suggesting that the price might be bottoming out, while others indicate that further declines are possible. The MACD has crossed into negative territory, indicating that the sellers are in control at the moment.

However, the RSI is showing signs of divergence, which could be a signal that the downtrend is losing momentum.

The volume remains relatively low, which is typical for a token that is in a deep correction. If the price manages to break out of the current consolidation and move in any direction, we can expect to see an increase in volume, which would be a more reliable indication of the trend.

Overall, the technical analysis suggests that TRUMP is at a crossroads, and its next major move will depend on whether the bulls or the bears manage to gain control. The breakout or breakdown from the current consolidation is crucial for determining the direction of the trend.