TRUMP Crypto Crashes as Market Sentiment Sours—Further Declines Loom

10. Feb 2025 Posted by Bakshi A. on News

The TRUMP cryptocurrency has taken a severe hit, plunging to record lows and wiping out most of its value in just a month. The drop comes amid intensifying tariff conflicts led by the U.S. President, adding to the asset’s woes.

Traders Abandon TRUMP as Bearish Trend Deepens

Market conditions have turned overwhelmingly negative, leaving little room for recovery. With confidence dwindling, traders are shifting toward short positions, anticipating further declines. Funding rates for TRUMP have hit their lowest levels since mid-January, indicating a strong preference for betting against the token rather than backing a potential rebound.

As long positions dwindle, selling pressure continues to dominate, preventing any price stabilization. The technical outlook remains bleak, with key indicators signaling extended weakness. The Relative Strength Index (RSI) has stayed below the neutral 50.0 mark since early February, confirming sustained bearish momentum. A deeper RSI reading suggests persistent selling activity, with no immediate signs of relief.

New All-Time Lows Raise Liquidation Risks

Today, TRUMP’s price crashed to a fresh all-time low (ATL) of $14.29, marking an 11% plunge in the past 24 hours. The collapse was triggered by the loss of the $16.00 support level, which had been critical for price stability. With no strong buying support in sight, the risk of further downside remains high.

If the current trend persists, TRUMP could soon fall below the psychological $10 threshold, wiping out nearly all of its value since its debut. A breach of this level could accelerate liquidations, driving prices even lower.

Can TRUMP Reverse the Downtrend?

For the bearish outlook to be invalidated, TRUMP must reclaim the $19.58 support level. A successful push above this zone could spark a recovery toward $26, restoring some of the recent losses. However, given the prevailing market sentiment, a bullish reversal seems unlikely without a significant shift in broader conditions.

Until then, TRUMP’s trajectory remains firmly downward, with traders bracing for even steeper losses in the coming weeks.