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Official Trump tests support after 25% rally
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Official Trump tests support after 25% rally

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Official Trump tests support after 25% rally

  • Official Trump fell 2.6% in 24 hours after a recent rally, with traders watching whether key support levels can hold.
  • Daily trading volume dropped 32% to US$271 million, while a US$13.8 million token unlock is scheduled for next week.
  • Some large holders appear to be accumulating tokens, potentially providing support during the current pullback.

Official Trump (CRYPTO:TRUMP) fell 2.6% over the past 24 hours to a market capitalisation of US$477 million as traders assessed whether the token could maintain its recent breakout.

The decline followed a rally that lifted the token to US$2.40 after breaking above a descending channel, with prices now consolidating near the US$2 level.

Daily trading volume fell 32% to US$271 million, though the volume-to-market-cap ratio remained elevated at 56.88%, indicating continued market activity.

Technical indicators showed mixed signals, with the Relative Strength Index at 51 and the MACD remaining positive despite fading momentum.

Analysts monitoring the chart structure said holding above US$2 could support a move toward the US$2.60 to US$3.00 range, while a break lower could see the token retest support near US$1.80.

Additional pressure may come from the scheduled release of 6.3 million Official Trump tokens worth approximately US$13.8 million next week, alongside daily unlocks valued at about US$1.87 million.

On-chain data showed a whale withdrawing 1.5 million Official Trump tokens worth about US$3.16 million from Binance into newly created wallets, a transaction pattern often associated with accumulation rather than immediate selling.

At the time of reporting, Official Trump price was $1.98.

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