TRUMP Price Prediction: Meme Coin May Revisit Yearly Low

TRUMP price has witnessed a notable decline in the past few weeks. The Trump-inspired meme coin is now trading at $3.31, reflecting a 27% decline over the past week.

The price of TRUMP has fallen significantly in recent weeks. The Trump-themed meme coin is now trading at $3.31, down 27% over the past seven days.

With the election less than two weeks away, TRUMP is set to revisit its yearly low of $1.70. This analysis will highlight the factors making this scenario increasingly likely.

MAGA Token Sees Spike In Selloffs

TRUMP's price has fallen 22% over the past 24 hours. Its trading volume during this period has amounted to $12 million, up 122%.

When an asset's price decreases while its trading volume surges, it signifies strong selling pressure within the market. The combined interpretation of this trend suggests that a large number of TRUMP traders are selling off their positions.

This indicates that holders are losing信心 in the asset as the election date approaches, prompting a rush to sell.

TRUMP's negative Chaikin Money Flow (CMF) further supports this bearish outlook. This indicator is trending down and below the zero line at -0.04 as of this writing.

The CMF indicator gauges the money flow into and out of an asset. When its value is above zero, it indicates that an asset is being accumulated, suggesting bullish sentiment as buying pressure exceeds selling pressure.

On the other hand, a CMF reading below zero suggests a bearish sentiment. It signals that selling pressure dominates the market, and the downward momentum is likely to continue.

Moreover, the double-digit decline has pushed TRUMP's price below the 20-day exponential moving average (EMA), which tracks its average price over the past 20 trading days.

This is a bearish signal because it suggests that Trump's short-term trend is weakening. It indicates that the sellers of the meme coin are taking control and have driven its price lower than the moving average of the past 20 days.

TRUMP Price Prediction: Meme Coin May Revisit Yearly Low

If the current trend continues, TRUMP's price is at risk of revisiting its yearly low of $1.70, which would entail a 48% decline from its current level.

However, if the market sentiment shifts from bearish to bullish and new demand for the meme coin surges, TRUMP's price could rebound and begin an uptrend.

In this scenario, it would aim to break through the resistance at $5.49. If successful, TRUMP could potentially rally further, targeting $11.64.