- Trump Memecoin fell by 16.47%this week, with prices baptized as low as $ 10.43 before he stabilized near $ 10.74.
- Spot Sell Volume rose to 1.91 million, surpassed the purchase volume and leave a -288K Delta.
After collecting a highlight of $ 15.93 during Trump’s dinner, official Trump [TRUMP] Has trouble making even more profit. As far as the memecoin has fallen sharply last week.
After a peak at $ 15.93, the memecoin went steadily and dropped as low as $ 10.43.
From the moment of the press it was traded near $ 10.74, a decrease of 7.24% this week and 16.47% on the weekly graph. The trend suggests that Beerarish is mounted pressure and the retail interest is fading.
Although prices have fallen sharply in the past week, these losses have created a perfect buying option, especially for whales.
Buy whales the dip – Stilish or bait?
As far as, Trump -Walvissen have come on the market and they buy the dip.
According to Onchain -lensA newly created wallet withdrew 425,764 Trump -Tokens worth $ 4.53 million from Binance.
Buying that kind, while refueling prices, implies accumulation with a lot of conviction. Of course it is the kind of movement that Copycat interest can arouse with smaller holders.
Source: Coinglass
And there is more. Despite the price fall, the exchange of Trump Coin has remained negative for the entire week. That means that more tokens have left scholarships than entered, usually a bullish signal during decline.
But the graphs? Still gloomy
Despite this whale recording, other market participants largely remain Bearish. When we look at spotactivity, sellers increasingly dominate the market.
At Coinalyze, sales volume, after 1.91 million Trump rose in 24 hours, leaving a negative delta of -288K behind.
Source: Coinalyze
Even the buyers who enter the market in the future usually get short positions.
This is because Trump’s financing percentage became positive in the past day. A negative financing percentage suggests that the majority of investors fall short in the future.
This indicates that those who expect prices will fall further dominate the market. That is why the market sentiment has been drastically shifted in Beerarish.
Source: Coinalyze
What is the next step for the memecoin?
According to the analysis of Ambcrypto, Trump has experienced a strong down momentum. This downward momentum is proven by the decreasing MacD line.
The MACD line slipped under the signal line and both are deep in a negative area. That is a textbook of strong disadvantage momentum.
Source: TradingView
In addition, the 100-day EMA is about to cross under the 50-day EMA-one of a other bearer crossover that usually precedes further falls.
Completion of this step will validate the bearing in the market. These conditions can push Trump to fall below $ 10 and find the next support around $ 9.64.
To make this Bearish movement invalid, buyers have to take the spot market again and insist on an end of around $ 11.32.
Credit : ambcrypto.com
