TRUMP, the cryptocurrency, has seen a consistent downtrend recently, with a slight pause in its decline last week. Despite attempts to recover, TRUMP has struggled to gain momentum.

US President Donald Trump's decisions have impacted market sentiment, but have not sparked a resurgence for the meme coin. Investor confidence in TRUMP has dwindled, with a 33% decrease in Open Interest from $854 million to $567 million. This significant pullback indicates a lack of faith among traders, leading to a reduction in liquidity and increased bearish pressure.

The diminishing Open Interest reflects impatience among traders regarding TRUMP's price performance. Many are opting to exit their positions rather than hold out for a potential turnaround, further fueling the bearish sentiment.

Technical indicators support this negative outlook, with the Relative Strength Index (RSI) below the neutral 50.0 mark, signaling growing bearish momentum. Without a surge in buying activity, TRUMP may continue its descent, facing challenges in recovery and potential further losses.

Currently priced at $18.40, TRUMP struggles to breach the critical resistance at $19.58, while maintaining key support at $16.00. The altcoin aims to establish $20.00 as a stable support level, but uncertainty looms amidst prevailing bearish signals.

Maintaining above $16.00 could lead to consolidation within the $16.00 to $19.58 range, with breaking past $19.58 considered pivotal for a possible uptrend. Lifting $19.58 to a support level could initiate a rally towards $20.00 and beyond, targeting $26.09 and reversing the bearish trend in favor of bullish momentum.