$TRUMP Market Update: Correction Phase Analysis
$TRUMP experienced a $2.411K long liquidation at $3.309, indicating ongoing selling pressure. Price remains below key moving averages — 7-day, 30-day, 50-day, and 200-day — confirming broader bearish momentum. The break below the main pivot point and critical Fibonacci retracement levels reinforces downside risk. RSI is in oversold territory, suggesting potential short-term relief bounces, while MACD continues to reflect bearish control.
The 24-hour price range shows declining volume and net outflows, highlighting cautious market participation. Immediate support is at $3.30, with a stronger zone between $3.28–$3.30. Downside risk extends toward $3.25–$3.26, while near-term resistance lies at $3.32–$3.34 and $3.35–$3.36.
Short-term bounces may occur due to oversold conditions, but the broader trend remains weak until major resistance levels are reclaimed. Watch for volume confirmation on any reversal attempt. DYOR.
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