TRUMP Drops 20% Following US Tariffs Announcement

The TRUMP meme coin dropped 20% in value on Tuesday, decreasing its market capitalization to $2.5 billion and experiencing a 50% reduction in trading volume. This drop follows a failed price rally after a US crypto strategic reserve announcement. The coin's price now sits at a key support level of $11, and further selling pressure could push it below this level for the first time since its launch. A White House Crypto Summit on March 7 is a potential positive catalyst. The Relative Strength Index (RSI), a measure of momentum, fell from 74.7 to 40.1, suggesting weakening demand. The BBTrend indicator, which measures trend strength, is at -6.18 and declining, signaling bearish momentum. While the coin saw a price increase after the US crypto reserve announcement, this was short-lived. If the $11 support level doesn't hold, further price drops are possible. However, if the price breaks above $17.47, it could potentially reach $20.7 or even $24.5.