TRUMP Token Teeters at $12: Can Bulls Defend the Line?

Memecoins don’t pray—they either pump or get rekt. TRUMP’s latest price action puts it on the knife’s edge at the $12 support level, a make-or-break zone for traders riding the hype wave.

No fancy TA needed here—it’s a pure sentiment play. Hold $12, and the ’to the moon’ crowd gets another dopamine hit. Lose it? Well, let’s just say the ’free market’ has a dark sense of humor when it comes to politically-themed gambling tokens.

Despite the weak demand, TRUMP could see a bullish reversal

Source: TRUMP/USDT on TradingView

Following the April rally, Fibonacci retracement levels were plotted to analyze potential support.

In early May, the 61.8% retracement level at $10.74 was tested as support and has held strong so far, keeping hopes alive for long-term holders anticipating a trend reversal.

However, the steady decline in the OBV since late April was not a positive sign.

Meanwhile, the RSI on the 3-day chart reflected that bearish momentum was dominant. This suggests that traders should brace for more losses.

Source: TRUMP/USDT on TradingView

Interestingly, the 4-hour chart offered more hope.

Its technical indicators were even more bearish, but TRUMP was trading at the three-week range low at $12.2. Therefore, even though demand was weak, it still offered a good risk-to-reward buying opportunity.

Swing traders can set a stop-loss below $11.8, and use a rally to $13.75 (mid-range resistance) and $15.3 (range high) to take profits.

Source: Coinglass

The Liquidation Heatmap from CoinGlass revealed one more twist.

It warned of another dip in the short term.

The liquidity pocket around $12 was not fully swept, and a minor dip to $11.9 was possible. However, after collecting the liquidity at the range lows, a slow MOVE toward the range highs could be the most likely scenario next.

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