TRUMP Meme Coin Falls 16% As Short Sellers Remain Highly Active 📉
The TRUMP meme coin has experienced significant volatility recently, failing to surpass its resistance level at $16. It faced a 16% drop over the weekend, trading at $11.08. Short sellers have been highly active, positioning themselves to benefit from this downfall.
Despite the downturn, macro indicators, including the Chaikin Money Flow (CMF), show continued capital inflow, suggesting a bullish overall sentiment among investors. While bearish sentiments could persist, maintaining a CMF above zero indicates sustained investor confidence in TRUMP's long-term potential.
Currently, the price hovers above the crucial $10.29 support level, but maintaining it is pivotal to avoid further declines.
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