Official Trump Price Forecast: Selling pressure intensifies as TRUMP falls to record low

• After falling 20% the previous day, Official Trump token trades close to $1.25 on Thursday.
• A steady recovery in TRUMP Open Interest this week contrasts with falling spot prices, pointing to a build-up of bearish positions.
• Mounting selling pressure leaves the technical outlook for TRUMP tilted to the downside.

Following a 20% fall the previous day, Official Trump (TRUMP) is pausing around $1.2500 at the time of writing on Thursday. The token’s losses coincide with the Republicans’ defeat in the US midterms. A build-up of positions in TRUMP derivatives points to a stronger bearish bias among traders. Persistent selling pressure also leaves the technical picture signalling scope for further losses.

TRUMP futures attract new short positions

A surge in capital flowing into TRUMP derivatives has driven a build-up of positions this week. CoinGlass data put TRUMP Open Interest (OI) at 130 million TRUMP tokens, compared with 100 million on Sunday, pointing to greater leveraged positioning. With spot prices falling, this renewed speculative interest suggests a bearish bias towards the token.

Technical outlook: TRUMP remains exposed to further losses

The downtrend of the past two months continues on Thursday, with TRUMP trading at a record low near $1.2580. Its position well beneath the 50- and 200-day Exponential Moving Averages (EMAs), at $1.7806 and $2.3075 respectively, keeps the near-term bias bearish.

A long-term resistance trendline linking the highs of 29 August and 1 November, near $1.7772, continues to cap TRUMP. Daily closes have also remained below $1.3650, the previous record low reached on 13 August. These technical conditions leave room for further declines, likely towards the psychological threshold of $1.0000.

With the Moving Average Convergence Divergence (MACD) beneath both zero and its signal line, momentum remains subdued. The Relative Strength Index (RSI), at 27 in oversold territory, also points to continued downward pressure.

Any recovery would first encounter resistance around $1.7772 at the descending trendline, with the 50-day EMA at $1.7806 reinforcing that barrier. Only a sustained move above these levels would ease the prevailing bearish tone. Much further up, the 200-day EMA at $2.3075 represents a structural hurdle.

(The technical analysis of this story was written with the help of an AI tool. Know more.)