TRUMP, the meme coin that gained attention after the much-discussed TRUMP dinner, has been facing difficult price action in recent days.

The token has lost traction, with its price slipping and bearish sentiment creeping into the market.

The meme coin TRUMP, which came into the limelight following the much-discussed TRUMP dinner, has been struggling in recent days. The token has lost some of its recent gains, with technical indicators hinting at further potential for decline.

As the price of TRUMP continues to face difficulties, the possibility of a continuation of the downtrend now outperforms any potential for recovery.

TRUMP Traders Face Losses

The liquidation map for TRUMP reveals data concerning traders. Approximately $31 million worth of short contracts are at risk of liquidation if the price of TRUMP rises to $14.52. This is a critical threshold for shorts, as their positions would be liquidated if the price surges beyond this point.

On the other hand, the demand for a price drop indicates that many investors are positioning themselves for a fall in price of TRUMP, aiming for a move to the next support level at $10.97. This suggests a belief that the token could face difficulties in the short term.

On the macro level, technical indicators paint a bearish picture for TRUMP. The Relative Strength Index (RSI) has recently slipped below the neutral 50 mark, shifting into the bearish zone. This decline in the RSI indicates that the price of TRUMP is vulnerable to further downward pressure if the negative momentum strengthens.

As the RSI continues to trend lower, TRUMP is increasingly susceptible to price declines. The inability of the token to regain bullish momentum leaves it in a precarious state, with the potential for further losses if the current trend persists.

TRUMP Price Awaits Recovery

At $12.65, TRUMP is currently grappling with a lack of bullish momentum. Since the hype surrounding the TRUMP dinner has fizzled out, the token has fallen by nearly 15%.

This decline signals that the market has failed to sustain its earlier enthusiasm, which could be attributed to the token’s inability to break through the strong resistance at $13.36.

For TRUMP to recover, it would need to see a significant rally of nearly 15%, reaching $14.53. However, given the current market conditions and broader sentiment, this level seems more difficult to achieve. Instead, it is more likely that TRUMP could break through its current support at $12.18, leading to a further drop to $10.97.

That said, if there is a sudden shift in demand driven by new investors, TRUMP could see a surge. A strong push past $13.36 could set the stage for a rise to $14.53, triggering a liquidation of $31 million worth of short positions. Such a move would cause significant volatility in the market, potentially providing a sharp rebound for the altcoin.