TRUMP’s Road to New All-Time High: Why a 166% Rally May Be Unlikely 📉
The TRUMP token, after reaching an all-time high of $79, now trades at $29, battling a sharp downtrend and eroding market confidence. Early enthusiasts and traders are reconsidering their positions as sentiment around the altcoin grows increasingly pessimistic.
Open Interest for TRUMP has dropped significantly, signaling waning participation in the futures market. Initially buoyed by Donald Trump’s notoriety, the token’s appeal has plateaued amid broader crypto trends.
Though the MACD hints at positive market momentum, the altcoin requires more than bullish indicators, as inconsistent trading volumes and fluctuating demand cast doubt on its recovery prospects.
TRUMP trades above $26 support, facing the challenge of flipping $34 resistance into support to spark optimism. A 166% rally to $79 seems unlikely without renewed investor interest and market support.
Breaking $34 could propel TRUMP to $45, yet sustained growth necessitates consistent market cues and renewed trader confidence, especially from institutional investors.
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