Official Trump Analysis

• Official Trump showed signs of forming a short-term range formation below $12.2.
• The OBV indicated that selling pressure had begun to increase in recent hours.

The short-term performance of Official Trump (TRUMP) has been uninspiring. Since reaching local resistance around $12.5 on March 15, TRUMP receded by 10.55% and was trading at $11.19 at press time.

Mondays tend to see heightened volatility and can set the tone for the week’s price trends. AMBCrypto examined the liquidation heatmaps of Official Trump to understand potential short-term trend directions.

Is TRUMP forming a range below $12.2?

Based on its downward move from $13.88 to $9.54 earlier this month, a set of Fibonacci retracement levels was plotted. The 61.8% retracement level was at $12.22, which had served as resistance for the past four days.

The memecoin didn’t establish a convincing higher high, and neither did the OBV, suggesting a lack of buyer strength. The $10.2 level was a good short-term support level in the past week and might be retested, leading to a potential range formation for Official Trump.

The choppiness index fell in recent hours, indicating a trend was forming. However, the DMI pointed to a strong bullish trend present since March 13. Unless the OBV rises again, the short-term uptrend may continue.

If the $10.2 level is retested but not defended as support, further bearish targets include $9.54 and $8.52. The liquidity pockets below showed strength, particularly in the $10.9-$11 and $9.8-$9.9 areas, reflecting a concentration of liquidation levels that could attract prices.

These are the short-term price targets, while $12.5-$12.7 could pull prices upward, though this is unlikely in the short term. Traders can await movements to $10.9 and $9.9 to evaluate potential bullish reversals.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and reflects solely the writer’s opinion.