Official Trump (TRUMP) has dropped nearly 8% and is now trading near the 3.85 support level, putting traders on alert as meme coin volatility returns.
According to the crypto analyst Nehal, as of Sunday, March 15, many retail traders believe the move presents a classic buy-the-dip opportunity, with expectations of a rebound toward 4.10 and possibly 4.30, but memecoins often move based on liquidity pressure rather than market logic.
Source: Nehal’s X Post
Nehal also cautions that the current structure may not be a breakout but rather a trap. A minor pullback might attract late buyers before a further fall towards 3.50 causes liquidation and removes excess leverage.
This shakeout might be followed by a strong move, which further supports the fact that memecoins often go against the majority’s expectations.
Also Read: $TRUMP Jumps Over 30% After Exclusive Event Announcement at Mar-a-Lago
TRUMP Momentum Indicators Reinforce Recovery Phase
According to TradingView, the Relative Strength Index (RSI) has a vertical climb towards the 66.92 level, indicating a strong rise in the buying momentum from the lows.
This indicator is close to reaching the overbought level at 70.00, implying that the rise has been very swift so far. Though the trend is bullish, technical rises like these are often accompanied by a brief consolidation period.
Source: TradingView
The MACD indicator also confirms the shift as the blue MACD line crosses decisively above the orange signal line. The bullish crossover is further supported by the expanding teal histogram, which is now at 0.12641.
This indicates that the short-term momentum has overtaken the long-term trend, thus resulting in a potential trend reversal as the MACD moves back to the positive territory above the zero-median.
TRUMP Crypto Whale Exits Amid Heavy Losses
Despite this positive price movement, a major crypto whale has closed his trade in TRUMP after holding the token for nearly eight months and has closed the trade at a significant loss.
The Lookonchain data reveals that the investor sold 211,343 TRUMP worth $847,000 after having purchased the token for around $2.13 million at the average price of $10 for each token.
Source: Lookonchain’s X Post
The transaction also reflects a realized loss of around $1.29 million. This underlines the risk associated with holding volatile assets over a period of time when prices are declining.
Large sell-offs by long-term holders are usually taken as a signal of capitulation. Market observers are now waiting to see if a whale’s exit will add to downward pressure or calm prices.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Official Trump (TRUMP) Surges 12% After Resistance Breakout as Volume Signals Strength
