Why the TRUMP Meme Coin is Hard to Recover in the Future

TRUMP has increased by 7% in the past 24 hours, with the trading price at $10.34 at the time of writing. Despite this short term bounce back, the overall outlook for altcoin remains bearish, influenced by the ongoing market conditions. The recent conflict between Elon Musk and Donald Trump has added to the instability, potentially deepening the downtrend. TRUMP Outflow Increases The relative strength index (RSI) of TRUMP is currently in the negative zone, below the neutral level. This indicates that broader market signals are falling, posing significant challenges to TRUMP's bounce back. The prolonged period in the negative zone indicates weak buying momentum and sellers continue to dominate the market. The pessimistic sentiment is further exacerbated by the recent instability in the market surrounding the feud between Musk and Trump. The ongoing tensions between these two influential figures may contribute to the bearish momentum for TRUMP.

From a macro perspective, the Chaikin Money Flow indicator (CMF) highlights the trend of money flowing mainly out of TRUMP. CMF has recently dropped to its lowest level in over three months, indicating that there is very little buying pressure to support asset prices. This shows the increasing lack of confidence among investors in the long-term value of TRUMP.

The market's reaction to the conflict between Musk and Trump could amplify this outflow of capital. According to Nic Puckrin, a cryptocurrency analyst and founder of The Coin Bureau, the tension between Musk and Trump could negatively affect the market in general. "The public altercation that we are witnessing between Musk and Trump is nothing unpredictable. However, considering their influence on the news cycle, the market doesn't like this at all, and it can only get worse when emotions escalate... This is a perfect storm for the market, and if this uncertainty, along with the Trump-Musk story, continues into the weekend, the crypto market will suffer heavy consequences, as it remains the only market to trade 24/7," Puckrin said. The Price Recovery of TRUMP May Be Difficult TRUMP is currently trading at $10.48, up 7.6% in the past 24 hours. However, this token is facing significant resistance at $10.97, a level that has proven difficult to surpass in recent weeks. With the current market sentiment, it seems that TRUMP will struggle to break through this resistance level, limiting price fluctuations in the short term. Considering the current bearish factors and the lack of strong buying momentum, TRUMP may still maintain a reasonable level between $10.97 and the support level of $9.68. This consolidation may continue as the market struggles with the impact of capital outflows and investor uncertainty, making it difficult for TRUMP to achieve significant gains.

If Trump supporters change their views and become more optimistic, the token could break through the resistance level of $10.97. Successfully flipping this level to support could trigger a move towards $12.18, invalidating the current bearish argument.