OFFICIAL TRUMP (TRUMP) Struggles at $4.90: Technical Analysis Signals Market Indecision

Source: CryptoNewsNet Original Title: OFFICIAL TRUMP (TRUMP) Struggles at $4: Could a Dip Toward Former Lows Be Imminent? Original Link:

Price Action and Market Overview

OFFICIAL TRUMP is trading near the $4.90 level. The market shows indecision, not a clear downtrend.

A 2.96% loss in the broader market has brought indecision across crypto tokens. With choppy price movement, the charts are painted in blood red. Bearish pressure is constantly gaining traction, sending the asset’s momentum down. Meanwhile, OFFICIAL TRUMP (TRUMP) has posted a 2.51% drop in value.

The asset has seen fluctuations, forming highs and lows while attempting to enter the green zone, but ended up facing rejections. In the early hours, it traded at a high of $5.04, and as bearish command took over the market, the price fell to a bottom of $4.89.

According to CoinMarketCap data, OFFICIAL TRUMP is currently trading around the $4.90 mark. With a market cap resting at $980.27 million, the daily trading volume has plunged by 5%, likely reaching the $133.09 million mark.

Technical Indicators Analysis

MACD and Signal Lines: Both the Moving Average Convergence Divergence (MACD) line and signal line are stationed below the zero line, indicating bearish momentum and weak price strength. A potential trend shift occurs only if the lines start moving back above the zero line.

Chaikin Money Flow (CMF): Positioned at 0.15, the CMF suggests strong buying pressure in the TRUMP market. Capital is flowing into the asset, hinting at accumulation rather than distribution, signaling underlying demand.

Relative Strength Index (RSI): The daily RSI at 43.36 signals neutral to slightly bearish sentiment. TRUMP is not overbought or oversold, reflecting mild weakness. A move above 50 would improve momentum, while a drop to 30 would bring selling pressure.

Bull Bear Power (BBP): The reading of -0.050 implies slight bearish dominance in the market, pointing to indecision rather than a strong downtrend.

Price Outlook

Bearish Scenario: On the four-hour chart, OFFICIAL TRUMP reports a bearish outlook with price retracing to the support range at $4.84. Further losses might trigger a death cross formation, and bears could gradually pull the price below the $4.78 mark.

Bullish Scenario: If the asset’s price enters the bullish zone, it could immediately climb to resistance at the $4.96 level. With extended upside pressure, a golden cross is expected, and bulls could drive OFFICIAL TRUMP toward $5.02 or higher.