Trump, the meme’s play that drew attention after Trump’s dinner so discussed, has been faced at difficult prices in recent days. The token has lost its traction, with its slippery price and the lowering feeling that slips into the market.
While the price continues to fight, the probability of a new decline now prevails over any potential recovery, leaving traders in a precarious position.
Trump traders face losses
Trump’s liquidation card reveals data concerning traders. About $ 31 million in uncovered contracts are at risk of liquidation if Trump’s price rises to $ 14.52. This is a critical threshold for shorts, because their positions would be liquidated if the price exceeds this point.
The demand for a drop in prices indicates that many investors no longer believe in the potential for additional gains. Instead, they position themselves for a drop in price, suggesting decreasing optimism in the short -term perspectives of Trump.
At the macro level, technical indicators paint a downward image for Trump. The relative resistance index (RSI) recently slipped under the neutral brand 50, signaling a change in the lower area. This drop in RSI indicates that Trump’s price is vulnerable to a drop more than the negative moment is strengthening.
While the RSI continues to drop, Trump is more and more sensitive to price reductions. The inability to resume the bullish momentum leaves the token in a precarious state, with the potential for additional losses if the current trend persists.
Trump Price is waiting for the recovery
At $ 12.65, Trump is currently struggling with a lack of bullish momentum. Despite the media threshing surrounding Trump dinner, the token has dropped almost 15% since the event, indicating that the market has failed to maintain its previous enthusiasm.
This decrease reflects a wider skepticism as to the future performance of the token.
For Trump to recover, he should see a significant gathering, requiring an increase of almost 15% to reach $ 14.53. However, given the current market conditions and the broader feeling, this level seems difficult to reach.
Instead, it is more likely that Trump could pierce his current support at $ 12.18, which resulted in a new drop at $ 10.97.
That said, if there is a sudden change in demand motivated by new investors, Trump could see a wave. A strong push of $ 13.36 could open the ground for an increase at $ 14.53, triggering a liquidation of $ 31 million in short positions.
Such a decision would lead to significant volatility on the market, potentially offering a brutal rebound for Altcoin.
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In accordance with the Trust project guidelines, this price analysis article is for information purposes only and should not be considered as financial or investment advice. Beincrypto is committed to exact and impartial reports, but market conditions are likely to change without notice. Always carry out your own research and consult a professional before making financial decisions. Please note that our terms and conditions, our privacy policy and our non-responsibility clauses have been updated.
