🚨 $TRUMP Technical Analysis
$TRUMP is sitting at a very important level right now, and in my opinion, the next major move will be decided from here.
If buyers manage to defend the current support zone, a push toward $2.004 looks possible. However, if this level breaks, the downside target around $1.488 comes into play, and things could get ugly pretty quickly.
What concerns me the most is the lack of strong support below the current price action. If selling pressure starts building, there isn't much standing in the way of a sharp move lower.
Open Interest remains relatively high, which adds even more fuel to the situation. High OI combined with a breakdown could trigger additional volatility and put long positions under serious pressure.
The rising diagonal trendline on the chart is currently one of the last major supports holding the structure together. As long as it remains intact, bulls still have a chance. But if that trendline gives way, I wouldn't be surprised to see a much deeper correction.
For now, I'm leaning bearish and staying cautious until the market shows a clear direction. 📉🐻
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