The price of the cryptocurrency TRUMP has been declining steadily and has struggled to recover despite the influence of President Donald Trump's decisions on market sentiment. Open Interest in TRUMP has decreased by 33%, indicating a lack of confidence among traders and prompting many to withdraw their positions, reducing liquidity and increasing bearish pressure. Technical indicators also suggest a bearish outlook, with the Relative Strength Index (RSI) below the neutral 50.0 mark. Unless there is a surge in buying pressure, TRUMP may continue its downtrend and could face extended consolidation or further losses. The cryptocurrency is currently trading at $18.40, below the critical resistance of $19.58, but still above its key support level of $16.00. Reclaiming $20.00 as stable support and breaking past $19.58 will be crucial for any potential uptrend, with a potential target of $26.09 if bullish momentum is regained.
Content Editor ( beincrypto.com )
- 2025-02-06
TRUMP Open Interest Declines 33% as Price Struggles Under $20
