Crypto Market Plummets, Total Value Drops to $2.52 Trillion
- Market Value Decline: The total market value of the crypto market has fallen to $2.52 trillion, down 6% in the last 24 hours, indicating a sharp decline in investor confidence that could lead to broader market panic and liquidity issues.
- Bitcoin Price Crash: Bitcoin's price plummeted from $89,200 to a low of $74,561, a drop of over 16%, primarily due to increasing uncertainty around global interest rates, which may affect investors' risk appetite and market liquidity.
- Economic Data Impact: Initial Jobless Claims in the U.S. are expected to rise from 209,000 to 212,000, and if this figure exceeds expectations, it may signal weakness in the U.S. job market, increasing hopes that the Federal Reserve might slow down rate hikes, which could positively impact the crypto market.
- Technical Support Breach: Bitcoin has lost its key long-term support level, the EMA100, for the first time in over 840 days, with analysts warning that this could indicate greater downside risk; the current focus is on the $68,000 to $70,000 support zone, which, if breached, could trigger further sell-offs.
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Technical Analysis for TRUMP
Technical Sentiment Analysis for OFFICIAL TRUMP (TRUMP) As of , OFFICIAL TRUMP (TRUMP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TRUMP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, TRUMP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
OFFICIAL TRUMP (TRUMP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1.512 | 2.266 | 3.092 | 3.846 | 4.672 | 5.426 | 6.252 |
| Fibonacci | 2.266 | 2.87 | 3.243 | 3.846 | 4.45 | 4.823 | 5.426 |
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