The coin known as TRUMP has shown significant fluctuations recently, failing to surpass the $16 resistance level despite a brief uptrend last week. Subsequently, TRUMP has consistently experienced downward pressure, with a notable 24-hour drop today, leaving the altcoin trading at $11.08 – marking a 16% decrease over the weekend.

Traders were expecting a potential decline, indicated by the negative funding rate for TRUMP, the most bearish it has been in the last three weeks. This situation implies active short selling in anticipation of the token's decline. While traders possibly profited from the downturn, maintaining short positions could result in quick losses if there is a price recovery. This may prompt a strategy shift among traders to minimize risk, potentially driving TRUMP's price back up.

Despite the recent significant drop, key indicators suggest an optimistic outlook among investors. The positive Chaikin Money Flow (CMF) demonstrates a continual inflow of capital into TRUMP, revealing buyer dominance even amid recent market weakness. This bullish signal indicates that investors, particularly long-term holders, still have faith in TRUMP's future trajectory.

TRUMP's current price stands at $11.08 after a sharp 16% decline over 24 hours, triggered by the failure to break the critical $16.00 resistance. However, the coin remains above the essential $10.29 support level, acting as a key defense before a potential drop below $10.00. If investor support persists, a recovery could ensue, with reclaiming $12.18 as support marking renewed strength and encouraging further accumulation.

Nevertheless, heightened bearish sentiment in the broader crypto market may undermine investor confidence, potentially resulting in panic selling driving TRUMP below $10.29 to $9.11, weakening the bullish outlook and extending the downward trend.