- TRUMP token eyes recovery as Tron deployment aims to boost accessibility
- MACD hints at bullish crossover while RSI signals weak but stabilizing trend
- Only 20% of TRUMP supply is circulating, raising future inflation concerns
The OFFICIAL TRUMP ($TRUMP) token is preparing to debut on the Tron blockchain, adding fuel to ongoing discussions around its future price movement. Originally launched on the Solana network just two days before Donald Trump’s inauguration as the 47th President, the meme coin now eyes broader adoption.
This shift follows a strategic announcement from the TrumpMeme team, indicating a significant expansion for the political-themed crypto asset. As the Tron deployment nears, investors are closely watching the token’s behavior in a choppy market.
At the time of writing, $TRUMP trades at $8.47, down 1.79% over the past 24 hours. This continues a broader downward trend, which has seen the token lose nearly 3% in a week.
Despite its dip, the token maintains a circulating market cap of $1.69 billion and a fully diluted valuation of $8.47 billion. These figures highlight a speculative valuation with only 20% of the total supply currently in circulation.
Price Trend and Key Levels
The token’s recent intraday action reveals consistent bearish movement. $TRUMP peaked at $8.66 before sellers aggressively reversed the climb. Lower highs and lows have emerged, cementing a negative short-term trend.
Key resistance has built up at $8.60, where multiple attempts to climb higher were quickly rejected. Additionally, minor resistance sits between $8.55 and $8.58.
On the downside, immediate support is forming at $8.45. If that floor breaks, traders expect further declines toward $8.40. These levels will be crucial in determining whether bearish momentum continues or the asset rebounds.
Momentum Indicators and Market Behavior
Market sentiment remains cautious. The MACD suggests a potential bullish crossover is forming, hinting at possible upward momentum. However, the signal remains weak and unconfirmed.
The RSI currently stands at 34.55, nearing oversold territory but not quite there. This implies the token may still have room to fall before significant buyer interest returns.
Additionally, the 24-hour trading volume sits at $142.6 million, showing strong investor activity despite the price dip. The upcoming Tron integration could further drive liquidity and access, especially with vocal support from TronDAO’s founder Justin Sun.
Outlook for July 9
Traders should watch the $8.45 support level and $8.60 resistance. A strong breakout or breakdown could define the next move. The Tron network launch adds both opportunity and uncertainty, making July 9 a key day to assess the $TRUMP token’s evolving price path.
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