TRUMP Memecoin Drops 24% After Strong Surge
The Most Important Points at a Glance
The memecoin TRUMP saw a 24% decline after a strong surge over the weekend. The price fell below key support levels, indicating a possible continuation of the downtrend. Resistance at $14 and $16 could limit further recovery attempts.
Price Decline After Strong Surge
On Sunday, TRUMP reached a peak of $17.75 before the price dropped again. This movement resembles a rally in mid-February, which also corrected quickly. The current development suggests that many traders have realized short-term profits.
Technical Analysis: Resistance and Support
After the price surge, TRUMP broke below the $12.27 mark, confirming a bearish market structure. An open price level between $14 and $14.25 could act as resistance. If the price fails to break through this area, another downward movement could follow.
Further resistance levels are at $16.5 to $17. If TRUMP rises above $15, the short-term trend could change. A retest of the $18 mark would then be possible.
Liquidation Zones as a Guide
According to liquidation data, there are strong interest areas between $13.8 and $14, as well as between $15.9 and $16.1. On the downside, a relevant zone lies between $11.25 and $11.6. If TRUMP falls below this mark, further selling could follow.
Short-term traders should act cautiously, as rapid price movements are possible. A retest of the $18 mark could trigger a stronger reaction.
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Our Assessment
TRUMP currently shows a weak market structure. Resistance at $14 and $16 could limit a recovery. However, a breakout above $15 could change the outlook. Traders should keep an eye on liquidation zones and be prepared for high volatility.
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