OFFICIAL TRUMP (TRUMP) Teeters at $11: Is a $10 Retest Next?

• OFFICIAL TRUMP is hovering near the $11 mark.
• Its daily trading volume has jumped by 72%.

The market’s indecision across the crypto assets has brought in an unclear price movement, swinging between green and red charts. The largest asset, Bitcoin (BTC), hovers within the 105.8K. Notably, SPX6900, Uniswap, and Quant became the top gainers of the day. Meanwhile, OFFICIAL TRUMP (TRUMP) has marked a 0.32% dip.

TRUMP has witnessed a set of highs and lows, that attempt to enter the green zone. The asset has recorded its daily high at around $11.81, and the bearish pressure has sent the price to a low of $11.09. As per CMC data, the OFFICIAL TRUMP is trading at around the $11.21 mark, with its market cap resting at $2.24 billion, at press time

Additionally, the market has experienced a 24-hour liquidation of $1.15 million worth of TRUMP, according to Coinglass. Also, the daily trading volume of the token has surged by 72.26%, touching $551.3 million.

Will The OFFICIAL TRUMP Keep Sliding?

OFFICIAL TRUMP’s Moving Average Convergence Divergence (MACD) line and signal line have crossed below the zero line, indicating a bearish crossover. The momentum is negative, with the selling pressure dominating the market. Besides, the asset’s Chaikin Money Flow (CMF) indicator is stationed at -0.15, suggesting moderate selling pressure. The money is flowing out of the asset, with a clear bearish signal.

*TRUMP chart (Source: TradingView)*The four-hour trading chart of the OFFICIAL TRUMP reports the bearish command. The asset could retrace to the range of $11.18, triggering the weakened momentum. Further loss might initiate the formation of a death cross, pulling the token’s price back toward the $11 mark and below, bringing in more downside correction.

If the token’s price graph steps into the green zone, it likely points to a bullish trading pattern. OFFICIAL TRUMP could climb toward the recent highs at the $11.26 level. An extended upside correction might trigger the golden cross to take place, applying more pressure and driving the asset’s price to the range of $11.40.

*TRUMP chart (Source: TradingView)*Moreover, the daily relative strength index (RSI), positioned at 45.90, signals neutral to slightly bearish momentum in the market, with mild selling pressure. The market may be in a consolidation phase. OFFICIAL TRUMP’s Bull Bear Power (BBP) value resting at -0.03 infers a slight bearish pressure, and the market is balanced and can swing either way.

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