$TRUMP A second squeeze after a severely oversold rebound, but it still isn’t the start of a trend’s main upswing.
Current price is 2.69, up +17.5% in 24H. The earlier low at 2.24 was quickly reclaimed and volume has expanded. Meanwhile, the prior futures contract’s OI has already been clearly cleared out and the funding rate has turned negative, indicating this move first crushed leverage and then pushed higher—short covering is the main fuel. But over the past 24 hours, long/short liquidations have become nearly balanced, and chasing higher prices now has worse odds.
In terms of strategy: don’t chase at 2.69. Wait for a pullback to 2.52–2.56 for rebound/hold support before entering. Positions can continue to be held. The first resistance is 2.79. Only if it stands above on increased volume should you look toward 2.91–3.00; if it breaks below 2.40, cut out immediately to confirm the rebound has ended. BTC is still around the 80k level and risk appetite hasn’t deteriorated, but TRUMP has recently had a team shift coins to exchanges, creating a bearish selling-overhang. Don’t get carried away—don’t jump into breakouts into the resistance zone.
Current price is 2.69, up +17.5% in 24H. The earlier low at 2.24 was quickly reclaimed and volume has expanded. Meanwhile, the prior futures contract’s OI has already been clearly cleared out and the funding rate has turned negative, indicating this move first crushed leverage and then pushed higher—short covering is the main fuel. But over the past 24 hours, long/short liquidations have become nearly balanced, and chasing higher prices now has worse odds.
In terms of strategy: don’t chase at 2.69. Wait for a pullback to 2.52–2.56 for rebound/hold support before entering. Positions can continue to be held. The first resistance is 2.79. Only if it stands above on increased volume should you look toward 2.91–3.00; if it breaks below 2.40, cut out immediately to confirm the rebound has ended. BTC is still around the 80k level and risk appetite hasn’t deteriorated, but TRUMP has recently had a team shift coins to exchanges, creating a bearish selling-overhang. Don’t get carried away—don’t jump into breakouts into the resistance zone.