The price of TRUMP, the cryptocurrency linked to U.S. President Donald Trump, has shown limited movement following the recent meeting in Alaska between Trump and Russian President Vladimir Putin.
Despite heightened market expectations, the altcoin did not experience a significant surge as some had anticipated.
TRUMP Investors Move To Sell Their Holdings
Investor sentiment around TRUMP saw a noticeable uptick following the high-profile meeting between Trump and Putin. Given the ongoing geopolitical tensions, many saw this summit as a step toward improving U.S.-Russia relations.
Such developments often spur market optimism, especially for assets tied to major political figures. However, the positive sentiment did not translate into a price increase for TRUMP, which remains largely unaffected by these macro events.
Despite the meeting’s importance, it seems that TRUMP investors were hesitant to take large positions, possibly due to concerns about future market volatility. The lack of significant market response highlights the cautious outlook investors currently have. The cryptocurrency’s price remained relatively stable, showing limited movement in response to the political developments.
For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
The broader market indicators for TRUMP, such as the Chaikin Money Flow (CMF), show signs of concern. The CMF, a key indicator of buying and selling pressure, has been trending downward, signaling that investor sentiment is weakening.
Investor skepticism appears to be driving this trend. As uncertainty mounts, investors may be pulling their funds out of TRUMP, fearing further declines or a lack of positive catalysts.
TRUMP Price Is Stable
TRUMP is currently trading at $9.17, holding above the support level of $9.04. This range-bound movement suggests that the price could continue consolidating between the $9.04 support and the resistance of $9.63. The market’s indecisiveness points to a period of low volatility.
However, if the outflows continue, TRUMP could fall through the $9.04 support and slip to the next support level of $8.43. This would extend the losses and put further downward pressure on the price, signaling a potential decline.
On the other hand, if TRUMP manages to flip the $9.63 resistance level into support, it could make its way towards $10.00. This would require a change in investor sentiment, likely driven by renewed confidence in the asset’s potential.
The post TRUMP Token Stays Range-Bound Post Trump-Putin Alaska Summit appeared first on BeInCrypto.
