A quick review of the TRUMP coin price action showed that the memecoin could be headed for further rise after reclaiming the 50 EMA and was headed for the 200 EMA despite a snub from a previous whale.
Whale address 2WfeaM reported trading activity, bringing around $368.5K on Fartcoin but having to bear a $168.6K loss on TRUMP coin.
Very recently, this whale bought an excess of 1.6 million Fartcoin with roughly $2 million USDC but did not buy any more TRUMP tokens.
In advance, this whale swapped 136,399.13 TRUMP cash for about $1.83 million USDC, which may display that the whale is much less assured inside the coin.
If the whale holds lower back from buying more TRUMP, this could make the market assume negatively about the coin.
If this continues with other major holders, there could be problems with TRUMP’s ease of trading and confidence in the market, possibly lowering the stability of its price.
On the other hand, Fartcoin may enjoy a boost if more whales buy into the cryptocurrency.
Reclaiming the 50 EMA on the 4-hour chart may mean that TRUMP coin price was ready for a small bullish swing.
Prices went up to about $11 as they moved towards the important 200 EMA at $11.68.
If the TRUMP coin price breaks above the 200 EMA, it could show that bulls are back and the price could first rally to $13 and then possibly to previous price highs at $15.
In contrast, if the price does not climb and stay above 200 EMA at $11.68, it may encourage a drop.
Price could then head downward and aim at the 50 EMA at $10.75. Breaking below the $9.31 level could lead to further losses all the way to the prices recently seen at $9.
In light of this, the 200 EMA at $11.68 can be an important sign for traders to watch since it was closely connected to the current movement.
A confirmation of the moving average could help buyers, and if the coin fails to support buyer interest, it could point to more bears, leading to further dropping values for TRUMP coin.
The liquidation map on Binance for TRUMP coin price suggested diverse regions wherein lots of excessive-leverage orders were located.
The strongest signal turned in at $11, as it had a big organization of liquidations (almost 455,000) that recommended the bears had been controlling the marketplace.
Liquidities bands were also found at $10.80, $10.95, and $11.10–$11.40, and they had noticeably hotter heat signatures, meaning they may entice the price for a liquidation-based move.
With the grouping from $11.10 to $11.40, the market may try to start another rise, hoping to hook the traders who set their stops around 11.40.
On the negative side, less trading took place below $10.50, meaning that fewer investors were using high leverages. As a consequence, less risk would be, if markets pulled back.
Such groups of orders work as momentary targets for price, and trading these zones may trigger high price movement. If TRUMP price drops below $11.10, it possible that buyers are taking profits.
Around $11.071 and $11.40, traders should notice how price moves, since these points play a big role in deciding the breakout’s continuation or a possible reversal.
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