- TRUMP battles volatility, with $15.80 acting as key support; a rebound could push prices to $16.60 or even $17.30.
- Resistance at $16.60 remains firm; multiple rejections suggest bulls need strong momentum for a breakout.
- A breach below $15.80 may result in additional downside pressure while holding could lead to a bullish comeback.
TRUMP’s price hovers at $15.956, with volatility inside a fixed trading range. According to analyst ali_charts, the $15.80 support level is crucial in keeping up bullish momentum. The price can bounce back to $16.60 or even $17.30. But if it cannot hold this level, it can continue dropping.
Price Action and Market Movement
TRUMP recently tested the $17.20 level before facing strong resistance, leading to a retracement. The price dropped to $15.80, where it found temporary support. A brief recovery followed, reaching $16.40, but another rejection forced the price downward again.
Now, TRUMP is struggling to retake $16.60. Moreover, volatility remains high, with price swings between support and resistance levels. If $15.80 cannot hold, further downward pressure can push the price down.
Key Resistance and Support Levels
The $16.60 presents a challenge to bullish energy. Several failed attempts at clearing above the region have resulted in successive retracements. A good break above $16.60 has the potential to send it to $17.30, opening up new bullish opportunities.
On the downside, $15.80 remains the primary support. A break below this level could lead to increased selling pressure. In such a case, the next critical support level might be lower, intensifying bearish sentiment.
Market Outlook and Sentiment
The market is consolidating, with TRUMP trading near the lower part of its recent range. Even though the short-term trend is weakly bearish, holding $15.80 could cause a rally. If buyers regain control again, the price can retest $16.60 in the near term. A sustained move over $16.60 could be indicative of fresh bullish pressure, while a break below $15.80 could lead to further declines.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
