TRUMP Memecoin Tumbles—Is $9 the Next Stop on Its Downward Spiral?

Another day, another memecoin bleeding out. TRUMP’s charts flash red as traders brace for a potential plunge to the $9 level—because nothing says ’stable investment’ like a token named after a politician.

Technical indicators suggest the downtrend has legs. RSI’s oversold? Maybe. But in crypto, ’oversold’ just means ’discount’ until the next hype cycle kicks in.

Watch the $9 support level like a hawk. If it cracks, we could see panic selling that’d make a Black Friday mob look orderly. Just remember: in memecoin land, fundamentals are what happen to other people’s portfolios.

The $9.1-level is the next TRUMP price target

Source: TRUMP/USDT on TradingView

The slump below $11.56 and its retest as a resistance was a significant development in recent days. The daily RSI also fell below neutral 50, signaling a shift in the momentum. Here, it must be noted that the rally was unable to surpass the 78.6% retracement level.

This level was plotted using the bearish impulse move in early March. Therefore, the rally towards the end of April was not a bullish development in the larger scope, but just a retracement before the downtrend resumes.

The $9.08-$9.54 zone has been a reliable support zone in the past. It could halt the bearish advance temporarily upon retest. The OBV slumped slightly over the past ten days, and sustained downward movement would mean that TRUMP’s downtrend will intensify.

Source: TRUMP/USDT on TradingView

On the 4-hour timeframe, the momentum was firmly bearish. The OBV also signaled a hike in selling pressure over the past ten days. The $9.08-$9.54 zone is the next price target now. In the first week of April, this region served as a support briefly.

Traders already in short positions can use this zone to exit and take profits. Swing traders can monitor TRUMP’s reaction at the $9-level to assess whether a buying or selling opportunity would arise.

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