The Official 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).
Current Dynamics of TRUMP Token
The TRUMP token has dropped 8% in the past week, trading around $9.35. It struggles to hold above key support levels, facing resistance at the 20-day Exponential Moving Average at $10.82. Market participants are eyeing the upcoming token unlock, questioning motivations behind politically-linked crypto assets.
Issues and Risks Ahead of Unlock
The bearish outlook intensifies due to the first round of TRUMP token unlocks 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.
Analysts on Support and Resistance
Analyst Martinez notes $8 support after the $10 break; Fibonacci levels suggest lower targets. RSI nears oversold territory (~35), but a reversal is unconfirmed amid unlock FUD and sentiment cues.
The TRUMP token faces risks ahead of the unlock and uncertain market prospects. Amid investors' disappointment, the token must prove its viability amid expectations.
