TRUMP Traders Fear $30 Million Liquidations If Meme Coin Rallies 15% 📉
TRUMP, a meme coin, faces challenging market conditions as its price has been on a downward trend. Traders fear potential liquidations totaling $31 million if the coin's value rises by 15% to $14.52. This critical level could liquidate short contracts and indicates traders' pessimism.
Technical indicators, such as the Relative Strength Index (RSI), suggest a bearish outlook, with the coin vulnerable to further declines. At $12.65, TRUMP is struggling to regain bullish momentum after a 15% drop post-TRUMP dinner event, reflecting skepticism about its future performance.
A significant rally seems unlikely, with the possibility of breaking support levels and dropping further. However, a surge past $13.36 might trigger a short position liquidation, leading to market volatility and a potential rebound.
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