Super Trump Price Exits a Negative Channel: Levels To Watch

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The Super Trump price dropped more than 5% in the last 24 hours to trade at $0.01306 at press time.

This 24-hour loss added to the meme coin’s negative weekly performance. As a result, the STRUMP price is down over 25% on the weekly timeframe.

Super Trump Price Technical Overview

The Super Trump price was able to escape a negative price channel over the past 24 hours. It has since entered into a consolidation phase between $0.012460 and $0.014560. This sideways trading could be the build up to a strong move.

Also read: Notcoin Price Shows Upward Trend with Key Resistance Ahead

If this move is towards the upside, STRUMP could flip the $0.014560 resistance level into support. Thereafter, bulls might continue to exert pressure on the Super Trump price. With this potential buy volume, the meme coin could climb to the next major barrier at $0.015995 before potentially rising to as high as $0.017430 in the short term.

This bullish thesis might be invalidated if the Super Trump price drops below the $0.012460 support level within the coming 24 hours. In this alternative scenario, STRUMP could drop to the next technical crutch at $0.011225 in the following couple of days.

Technical Indicators Are Sending Warnings

Technical indicators on STRUMP’s 4-hour chart warn that the Super Trump price is losing some of its bullish steam. More specifically, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are showing negative signs.

Although the MACD line is currently positioned above the MACD Signal line to indicate that STRUMP is in a bullish phase, the former is starting to collapse towards the latter. Traders might see this as an early sign of the Super Trump price’s positive short-term cycle coming to an end.

Also read: STX Crypto Faces Sustained Bearish Pressure Near Key Support

Meanwhile, buyers also seem to retain the upper hand against sellers. This is evident by the RSI line’s positioning above the Simple Moving Average (SMA) line. Similar to the MACD and MACD Signal line, the RSI is negatively sloped and starting to drop towards the SMA line.

An intersection between the RSI and SMA on the 4-hour chart in the coming 24 hours could signal that bears have stolen the advantage from bulls. As a result, it might be easier for sellers to drag STRUMP down in the following few hours than it will be for buyers to push it up if bears decide to capitalize on the opportunity.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Author

Steven Walgenbach

Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations.

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