$TRUMP 24 hours: down 16.02%, current price 1.28, and the 14-day RSI has fallen to 26.9, entering oversold territory.
After retreating steadily from the 14-day high of 1.92, the price reached a 24-hour high of 1.53 and a low of 1.22. At 1.28, it is hovering close to the 14-day low of 1.22. The RSI falling below 30 indicates that short-term selling pressure has eased quickly, but being oversold does not necessarily mean the price has bottomed out; in a weak market, the indicator can remain subdued at low levels for a while.
What to watch next: 1.22 is both the 14-day low and the last key short-term support level. If it fails to hold, the price may continue lower in search of support. On a rebound, first watch whether it can reclaim the 24-hour high of 1.53. #TRUMP #Market Analysis
After retreating steadily from the 14-day high of 1.92, the price reached a 24-hour high of 1.53 and a low of 1.22. At 1.28, it is hovering close to the 14-day low of 1.22. The RSI falling below 30 indicates that short-term selling pressure has eased quickly, but being oversold does not necessarily mean the price has bottomed out; in a weak market, the indicator can remain subdued at low levels for a while.
What to watch next: 1.22 is both the 14-day low and the last key short-term support level. If it fails to hold, the price may continue lower in search of support. On a rebound, first watch whether it can reclaim the 24-hour high of 1.53. #TRUMP #Market Analysis