After a meeting between former U.S. President Donald Trump and Russian President Vladimir Putin in Alaska, the price of the cryptocurrency named TRUMP did not experience significant change. Despite expectations for a price rise in the market following the meeting, no noticeable increase was observed.
Investors’ Cautious Approach
The summit holds significance concerning the future of U.S.-Russia relations. Such developments typically have positive effects on digital assets linked to political figures. However, it was observed that TRUMP investors were hesitant to take large positions following the recent meeting. The positive market atmosphere did not directly reflect on the TRUMP price, leaving it stable. Some investors reduced the scale of their portfolios due to concerns about market fluctuations, resulting in no significant price movements.
Editor Harsh Notariya commented, “Nowadays, the impact of such political developments on crypto-assets tends to be more limited.”
Market Indicators and Investor Perception
General market indicators concerning the TRUMP asset demonstrate that investors have become more cautious recently. Especially, Chaikin Money Flow data suggests an increase in selling pressure and a weakening of the positive trend in the market. These developments might indicate investors are exiting the TRUMP asset. As uncertainty grows, investors appear reluctant to take risks and some have moved to cash.
The Santiment report highlighted, “A significant portion of TRUMP investors is adopting a wait-and-see approach unless a new catalyst emerges.”
TRUMP Price Analysis and Potential Scenarios
Currently, the TRUMP price stands at $9.17, maintaining above its support level of $9.04. The resistance level is noted as $9.63, with the price expected to remain volatile within this range for a while. If the existing selling pressure persists, TRUMP might lose its $9.04 support and fall to a lower level of $8.43. Should this occur, the downward pressure on the price may increase.
On the other hand, should there be an increase in investor confidence and TRUMP surpasses the $9.63 resistance, the price could rise to $10. It is emphasized that renewed market confidence is necessary for this increase. Experts suggest that short-term market volatility remains low, with investors responding cautiously to developments. Interest in TRUMP is seen as closely aligning with political developments.
