- An additional drop is underway while Trump breaks a consolidation phase.
- Chain and technical indicators add to the trend of a likely decrease in prices.
The Trump Manager (Trump) recorded one of the highest losses on the market, lowering 13.46% and providing the region of $ 11, at the time of the press.
This follows an extremely bad performance of the assets during the week and last month, with a drop of 32.07% and 59.41%, respectively.
Interestingly, a fractal scheme that Trump has been followed suggests that the price of the assets could slip even lower, below the region of $ 10.
Trump’s fall to a figure – $ 8
At the time of writing the editorial staff, Trump followed a fractal model, suggesting a probable drop.
A more in -depth examination of the one hour table shows that after consolidating for four days, Trump recorded a major drop. This happened for the first time between February 19 and 23, the asset consolidating before a fall of 25.34% in the region of $ 12.
Source: tradingView
A similar scenario takes place, Trump leaving another four -day consolidation phase between February 23 and 28. It is now on the right track for a decrease of 33.13%, targeting $ 8.37 – a level seen for the last time shortly after the launch.
To assess the probability of this drop, Ambcrypto examined the derivative market and found that speculation remains down.
Speculation for a potential fall
Key measures on the derivative market refer to a potential decrease in prices, the funding rate with open interest (OO) and the purchase / sale ratio of takers indicating a high sales volume.
The weighted feeling by OI, which has been optimistic for two consecutive days, has now become negative, with a -0,0004%reading, which implies an increasing lower feeling.
The weighted financing rate according to the OO combines the rate of data financing with an open interest to determine market trends, which makes it a reliable measure of commercial activity.
Source: Coringlass
The purchase / sale of takers have confirmed the lowering feeling, as there was more sales volume than purchase volume. This is determined depending on whether the ratio is greater than 1 (purchase) or less than 1 (sale).
At the time of writing the editorial staff, this ratio had decreased to 0.9231, indicating high sales pressure. If it falls below 0.9, speculation will become very downwards, accelerating the fall of Trump in the region of $ 8.
Bears’ presence confirmed
The bull power indicator (BBP), which compares the presence of buyers and the seller on the market, confirms the in progress lower feeling.
The momentum of the BBP indicator has gone to the negative region, at -1.40, a level it has maintained since February 25.
Source: tradingView
Meanwhile, the monetary flow index (MFI) entered the surveillance region, suggesting that sellers could soon exhaust their momentum, allowing a brief relief of prices.
However, if other key indicators remain down, any relief will probably be short -lived, resulting in new decreases.
For the moment, investors remain focused on the sale of Trump, which could play a major role in the return of the asset at $ 8.
