Will TRUMP’s price go down every year before the election?
TRUMP's value has seen significant declines over the past few weeks. The Trump-inspired meme coin is now trading at $3.31, representing a 27% drop over the past week.
With the election just a week and six days away, TRUMP is poised to revisit the annual low of $1.70. This analysis explores the factors that further increase that trend.
MAGA Sees Spike in Selloffs
TRUMP's price is down 22% in the last 24 hours. During the same period, the transaction volume reached a total of 12 million dollars, an increase of 122 percent.
When the transaction volume rises when the asset price falls, it indicates strong selling pressure in the market. A combined interpretation of this trend suggests that many TRUMP traders are selling their positions. This shows that when the election day is approaching, the owners are losing confidence in the property, which is a rush to sell.
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TRUMP's negative cash flow (CMF) supports this bearish view. As of this writing, this indicator is on a downward trend, below the zero line -0.04.
The CMF indicator measures cash flows into and out of assets. When the value is above zero, it indicates that the asset is accumulating because the buying pressure is greater than the selling.
Conversely, a CMF reading below zero indicates a depressed mood. It shows that selling pressure dominates the market and will continue to move lower.
Additionally, TRUMP's double-digit decline pushed the price below the 20-day exponential moving average (EMA), which tracks the average price over the past 20 trading days.
This is a bearish sign as it suggests that Trump's short-term trend is weakening. This indicates that meme coin sellers are gaining control and pushed the price below the moving average of the last 20 days.
TRUMP PRICE FORECAST: Mem Coin May Revisit Annual Lows.
If the current trend continues, TRUMP's price is at risk of revisiting the annual low of $1.70, a 48% drop from its current price. However, if market sentiment turns from bearish to bullish and new demand for Mem Coin grows, TRUMP's value may rebound and begin to improve.
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In this case, it aims to break through resistance at $5.49. If successful, TRUMP could rally further, targeting $11.64.
Disclaimer
In accordance with Trust Project guidelines, this price analysis article is for informational purposes only and should not be construed as financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions. Please note that our terms and conditions, privacy policies and disclaimers have been updated.
