TRUMP / TetherUSShort
TRUMPUSDT | Bearish Trend
**Trump Meme Coin | Bearish Trend**
The Trump meme coin, a 72-hour-old market sensation, managed to become the third-largest meme coin by market cap, reaching $9 billion.
This token was launched following a tweet from Trump in the past 72 hours and quickly gained traction on the Solana network due to a massive buying wave. As a result, it was swiftly listed on major crypto exchanges and attracted a significant portion of the market’s liquidity.
However, after the initial 72-hour hype, the emotional buying spree has faded, and the coin is now stuck around the $40 price range. It previously faced a crucial resistance zone between $75 and $78, but every attempt to break this level was met with heavy whale sell-offs, causing the price to plummet. Now, the coin is struggling to maintain its position around $40, and if it loses the $37–$35 support level, the price could drop further to around $27.
One major reason why this type of token is unreliable is its centralized nature—80% of the total supply is controlled by a single wallet.
My analysis suggests further price decline, with little to no chance of a recovery, at least until the $33–$27 range. The overall trend remains bearish, and the coin has lost all its support levels, with the strongest support now being around $34–$35. However, it remains to be seen whether new liquidity will enter the market or if existing holders will start withdrawing their funds.
**This is purely a personal analysis and does not constitute any buy or sell signal.**
The Trump meme coin, a 72-hour-old market sensation, managed to become the third-largest meme coin by market cap, reaching $9 billion.
This token was launched following a tweet from Trump in the past 72 hours and quickly gained traction on the Solana network due to a massive buying wave. As a result, it was swiftly listed on major crypto exchanges and attracted a significant portion of the market’s liquidity.
However, after the initial 72-hour hype, the emotional buying spree has faded, and the coin is now stuck around the $40 price range. It previously faced a crucial resistance zone between $75 and $78, but every attempt to break this level was met with heavy whale sell-offs, causing the price to plummet. Now, the coin is struggling to maintain its position around $40, and if it loses the $37–$35 support level, the price could drop further to around $27.
One major reason why this type of token is unreliable is its centralized nature—80% of the total supply is controlled by a single wallet.
My analysis suggests further price decline, with little to no chance of a recovery, at least until the $33–$27 range. The overall trend remains bearish, and the coin has lost all its support levels, with the strongest support now being around $34–$35. However, it remains to be seen whether new liquidity will enter the market or if existing holders will start withdrawing their funds.
**This is purely a personal analysis and does not constitute any buy or sell signal.**
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.