TRUMP meme coin plummeted 20%

TRUMP meme coin plummeted 20% on Tuesday, with its market cap falling to around $2.5 billion and trading volume dropping more than 50%

TRUMP, the meme coin named after former U.S. President Donald Trump, has seen a sharp 20% drop on Tuesday. This follows a failed attempt to sustain its rally after the U.S. crypto strategic reserve announcement, further adding to the bearish sentiment.

Recently, TRUMP prices briefly touched $14, a level not seen since its launch day. However, the coin has since encountered strong selling pressure, keeping it from trading above this point for long.

Key support now stands at $11, and if this level is lost, TRUMP could drop below this price for the first time.

However, there is a possibility of TRUMP finding renewed momentum with the upcoming first White House Crypto Summit on March 7, which could act as a potential catalyst for a rebound.

If an uptrend materializes, the first key level to watch is $17.47. A breakout above this resistance could send TRUMP rallying toward $20.7.

If bullish momentum strengthens further, the price could even test $24.5, marking an almost 100% upside from current levels.

If, on the other hand, TRUMP fails to break above $17.47 despite entering positive territory, it could indicate weak buying strength, and the price may return to test the support at $11.

If the downtrend continues, the next significant levels to watch on the downside are $7.2 and $4.3.

TRUMP RSI Is Back To Neutral After Surging To Overbought Levels

The Relative Strength Index (RSI) for TRUMP has dropped to 40.1, a steep decline from 74.7 just two days ago, reflecting a significant shift in momentum.

This rapid fall indicates that TRUMP has moved out of the overbought territory, where bullish pressure was dominant, and is now approaching lower levels that suggest weakening demand.

Given that TRUMP is currently trading very close to its historical lowest levels, the declining RSI suggests that sellers have taken control, and the asset is struggling to regain upward momentum. If the downtrend continues, TRUMP could remain under pressure, potentially testing new lows unless buyers step in to support the price.

RSI is a momentum oscillator that ranges from 0 to 100, with values above 70 indicating overbought conditions and below 30 signaling oversold territory.

When an asset’s RSI drops toward 30, it suggests that selling may be overextended, increasing the probability of a price rebound. At 40.1, TRUMP is still above oversold conditions, but the current downtrend places it in a precarious position.

If RSI continues to fall and breaks below 30, it could signal further downside, potentially driving TRUMP to new historical lows. However, if RSI stabilizes or rebounds from these levels, it may indicate a period of consolidation before any potential recovery.

BBTrend Shows TRUMP Has Had A Hard Time Building A Strong Uptrend

The BBTrend indicator for TRUMP is currently at -6.18 and has been steadily decreasing in the last hours since yesterday, signaling increasing bearish momentum.

This drop follows a brief attempt at bullish strength when BBTrend touched 3.25 two days ago, but that move quickly reversed as selling pressure took over.

TRUMP has struggled to build sustained upward momentum. Its highest BBTrend reading in recent weeks was only 12.4 on February 18, followed by a much lower peak of 3.38 on February 25. This pattern suggests that each bullish attempt has been weaker than the previous one, reinforcing the difficulty of maintaining an uptrend.

BBTrend (Bollinger Band Trend) measures trend strength and direction using price volatility within the Bollinger Bands. Positive values indicate growing bullish momentum, while negative values suggest an increasing downtrend.

With BBTrend now at -6.18 and continuing to decline, TRUMP remains in a bearish phase, struggling to find stability.

The consistent failure to sustain positive momentum since mid-February suggests that buyers have been unable to build strength, keeping TRUMP vulnerable to further downside unless the trend reverses soon.