TRUMP falls 59% in a month – Will it crash to $8 next?
The post TRUMP falls 59% in a month – Will it crash to $8 next? appeared on BitcoinEthereumNews.com.
An additional decline is underway as TRUMP breaches a consolidation phase. On-chain and technical indicators add to the tendency of a likely price drop. Official Trump [TRUMP] recorded one of the steepest losses in the market, dropping 13.46% and bringing its price to the $11 region, at press time. This follows an extremely poor performance from the asset over the past week and month, with declines of 32.07% and 59.41%, respectively. Interestingly, a fractal pattern TRUMP has been trailing suggests the asset’s price could slide even lower, below the $10 region. TRUMP’s fall to a single-digit figure—$8 At the time of writing, TRUMP has been trailing a fractal pattern, suggesting a likely further decline. A closer look at the 1-hour chart shows that after consolidating for four days, TRUMP recorded a major drop. This first occurred between February 19 and 23, with the asset consolidating before a 25.34% drop to the $12 region. Source: TradingView A similar scenario is unfolding, with TRUMP exiting another four-day consolidation phase between the 23rd and 28th of February. It is now on track for a 33.13% decline, targeting $8.37—a level last seen shortly after launch. To assess the likelihood of this drop, AMBCrypto examined the derivatives market and found that speculation remains bearish. Speculation for a potential fall Key metrics in the derivatives market hint at a potential price decline, with the Open Interest (OI)-Weighted Funding Rate and Taker Buy/Sell Ratio indicating high selling volume. The OI-weighted sentiment, which was bullish for two consecutive days, has now turned negative, with a reading of -0.0004%, implying a growing bearish sentiment. The OI-Weighted Funding Rate combines Funding Rate data with Open Interest to determine market trends, making it a reliable measure of trading activity. Source: Coinglass The Taker Buy/Sell Ratio confirmed the bearish sentiment, as there…
Filed under: News - @ March 1, 2025 4:16 am