Summary: TRUMP slips to key levels – The memecoin eyes $9.70 support next

TRUMP Memecoin Navigates Choppy Waters: A Tug-of-War Between Bears and Bulls The Official Trump [TRUMP] memecoin is currently at a critical crossroads, facing a whirlwind of mixed market sentiment. Its price recently plunged over 10% to a key level of $9.70, signaling a challenging period for the political token. This downturn aligns with a broader market correction and the increasing dominance of Bitcoin, which typically siphons interest away from altcoins. Despite the price dip, trading volume for TRUMP surged by 30%, indicating strong bearish pressure as more traders move to sell. Amid this uncertainty, crypto heavyweight Justin Sun, founder of Tron [TRX], threw a bullish lifeline. Sun announced TRUMP’s official integration onto the Tron network, proclaiming "All roads lead to TRON" in an attempt to globalize the memecoin. However, this significant development has yet to fully shift market sentiment, with TRUMP's price hovering precariously at its current support. Technical analysis highlights a pivotal convergence point at $9.70, where critical support levels meet. A decisive break below $9.65 could trigger a further 12.5% decline, potentially pushing the memecoin towards $8.50. Conversely, signs of a potential reversal are emerging, supported by an oversold Relative Strength Index (RSI) at 35. If TRUMP manages to hold above the $9.70 mark, an upside rally remains a possibility. Interestingly, CoinGlass data reveals that savvy investors are seizing this opportunity, actively accumulating TRUMP during the dip. Yet, traders generally remain bearish, with a Long/Short Ratio of 0.91 reflecting a cautious outlook. The future of the TRUMP memecoin now hangs in the balance, caught between bearish momentum and the hopes of a strong rebound.