- A whale withdrew $2.35M in TRUMP but faces $1.62M in losses as price nears breakdown below key support.
- TRUMP trades below critical Fibonacci levels with weekly candles printing six consecutive lower closes and no recovery signs.
- Technical indicators like RSI, AO, and A/D show no bullish divergence as momentum stays bearish and price hovers near $8.48.
Onchain Lens reports on X whale movement within the past 19 hours at the time of reporting. The whale withdrew 260,932 $TRUMP, valued at $2.35 million, from Gate. This address now holds 818,322 $TRUMP worth $7.09 million. However, the wallet faces an unrealized loss of $1.62 million. This development comes as $TRUMP trades near multi-month lows, struggling to reclaim critical support zones.
The weekly structure reflects intense bearish pressure. Since reaching a peak of $24.57, TRUMP has retraced sharply on MEXC. The token lost the 0.75 Fibonacci level at $20.81, followed by the 0.5 level at $17.05. The descent continued past the 0.25 zone at $13.30, with current prices sitting below the $9.55 base Fibonacci level. TRUMP now trades at $8.709, dangerously close to breaking a major historical support.
Source: Mike Brown
No Reversal in Sight Despite Oversold Conditions
Each weekly candle has closed lower for six straight sessions. The price continues forming lower highs and lower lows. Besides the failed mid-April bounce, no bullish momentum has emerged.
Additionally, short-term chart from Gate.io support this bearish bias. On the one-hour timeframe, TRUMP trades at $8.484 after a steady decline from $8.614. The 20-period moving average remains above the price, confirming short-term seller dominance. Bollinger Bands show expansion after a brief squeeze, with price candles hugging the lower band.
Source: Gate
Moreover, the Awesome Oscillator prints deepening red bars below zero. This confirms intensifying downside momentum. The RSI holds at 31.25 and has stayed under 40 since June 21. Despite reaching near-oversold levels, no price recovery followed. The Accumulation/Distribution line fell sharply on June 21 and has since flattened, signaling weak buyer interest.
Consequently, no bullish divergence has developed. The trend stays intact. Momentum indicators confirm no signs of reversal. Unless $TRUMP reclaims $9.50, the structure favors further downside.
