The $TRUMP /USDT pair has experienced a massive surge of +153.80%, skyrocketing to $69.16 after touching a high of $70.00 in the past 24 hours, with a strong recovery from $27.25 as its 24-hour low.
The pair has displayed significant bullish momentum, reflected by a strong green candlestick on the weekly chart.
Support and Resistance Levels:
Immediate Resistance: $70.00 (recent peak). A breakout here may lead to further upward potential.
Next Major Resistance: $75.00 (psychological level and speculative target for continued bullishness).
Immediate Support: $62.00-$63.00 range, likely where traders may defend recent profits.
Critical Support: $54.00-$55.00, where buyers could re-enter if the price faces retracement.
Next Move Prediction:
Bullish Scenario: If TRUMP/USDT sustains above $65.00, it may re-test $70.00 and potentially aim for $75.00 or higher, driven by high trading volumes.
Bearish Scenario: A fall below $62.00 could signal profit-taking, pushing prices toward $55.00 or the $50.00 zone.
Given the incredible price action, traders should closely monitor volatility and volume. Setting stop-loss orders is advised to manage risk during potential retracements.
$FET has witnessed a significant liquidation event as a long position worth $8.27K was wiped out at the critical level of $1.55437.
This signals intensified selling pressure and possibly a shift in market sentiment. Let's analyze the key levels and predict the next possible moves.
Key Levels to Watch
1. Immediate Support:
The next major support zone is at $1.50, a psychological level where bulls are expected to defend.
If this level breaks, we could see further downside momentum toward $1.45, the previous accumulation zone.
2. Immediate Resistance:
On the upside, $1.58 - $1.60 serves as the first resistance level.
A breakout above this range may push $FET towards $1.65, where significant selling activity was observed earlier.
Momentum Indicators
RSI: Currently, the RSI is trending downward, suggesting weakening bullish momentum.
However, it is approaching the oversold region, which might attract short-term buyers.
Volume: The spike in liquidation volumes suggests a possible capitulation, but a follow-up decline in volume could indicate stabilization.
What's Next?
Bullish Scenario: If bulls can reclaim $1.60 and sustain above, it may signal recovery and a potential move toward $1.70.
Bearish Scenario: A failure to hold $1.50 could open the doors for a deeper correction toward $1.40 or lower. Watch for increased sell-side pressure in this case.
Strategy Recommendations
For Long Traders: Monitor $1.50 for possible bounce setups, but keep tight stop-losses to avoid further downside.
For Short Traders: Look for rejection signals near $1.58 - $1.60 to ride the downtrend, targeting lower support levels.
This liquidation event marks a pivotal moment for FET.
Whether the bulls or bears take charge from here will depend on the ability to hold critical levels in the coming sessions.