The Trump (TRUMP) token is showing clear signs of bearish momentum, slipping below important technical levels as traders prepare for a major token unlock scheduled for April 17. The digital asset has declined further, now trading around $8.89, and is struggling to hold above the critical $9 support zone.
The technical analysis shared by crypto analyst Ali (@ali_charts) about TRUMP indicates the token struggles to sustain its position at $10 support leading to a probable deep decline. Token faces a quick descent to $8 in case it cannot restore the $10 support position within a short time frame.
Source: Ali Chart
A downward pattern shapes the TRUMP/USDT perpetual contract trading on the Binance platform. TRUMP token gave up its $10.70 range after unsuccessful attempts at holding upward momentum by falling below essential support lines.
TRUMP maintains a position slightly above $9.90 support during its current trading cycle but shows potential to drop toward $9.10, then $8 in case traders increase selling activities.
Also Read: Solana Slips Below Key Support Level
Bollinger Bands and MACD Signal Weak Market Structure as Unlock Event Approaches
Further weakness is visible on the daily chart using Bollinger Bands and the MACD indicator. The token is trading below the lower Bollinger Band, which currently sits around $9.15. The 20-day simple moving average at $10.84 is acting as immediate resistance, highlighting the difficulty for bulls to regain control.
Price activity that extends beyond the lower band demonstrates growing selling pressure in the market. Market participants show rising caution about TRUMP because it remains outside its trading channel while traders prepare for the planned release of forty million tokens worth $372 million.
The release of 20 percent of the circulating supply stands as a broadly recognized negative price indicator for short-term periods.
Source: Tradingview
The MACD continues to reflect negative sentiment, with both the MACD and signal lines positioned below zero and remaining flat, indicating minimal bullish momentum. The histogram has also failed to show signs of recovery, reinforcing the view that selling pressure remains dominant.
Conclusion
The TRUMP token is showing persistent weakness across multiple timeframes, with technical indicators and expert analysis pointing toward further downside risk. With the $10 support level broken and key resistance levels overhead, the token may remain under pressure in the lead-up to the April 17 token unlock.
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