Market sentiment has turned negative, with funding rates hitting their lowest levels since mid-January. Many traders are now betting on further declines, increasing short positions while long positions dwindle. The lack of buying interest has fueled selling pressure, keeping TRUMP’s price on a downward path.
Technical indicators show no signs of a rebound. The Relative Strength Index (RSI) has stayed below the neutral 50.0 mark since early February, reflecting sustained bearish momentum. A further dip in RSI could signal more selling activity, increasing the chances of deeper losses.
With the $16.00 support level now broken, TRUMP faces the risk of falling below $10. If that happens, most of its value since listing could be wiped out, triggering more liquidations.
A recovery remains uncertain unless TRUMP reclaims the $19.58 support level. If buyers return, the price could climb toward $26, offering a partial recovery. However, given the current market sentiment, a strong rebound seems unlikely unless conditions change drastically.
Traders are avoiding being brave this time, while TRUMP tries to regain momentum amidst deteriorating economic pressures coupled with increasing volatility in the markets.
