Whale Withdraws $10.78M TRUMP Coin, Will Price Drop to $8.20?

A recently-created TRUMP coin wallet moved 1M TRUMP tokens valued at $10.78 million from Binance’s platform indicating money flowing from whales.What Does Whale’s Withdrawal Mean?The MemeCore_ORG wallet had withdrawn $17.8M worth of 1.39M TRUMP coins to multiple large wallets during the past two weeks.The withdrawn quantity included 363K TRUMP ($4.46M) and 269K TRUMP ($3.56M). The wallet opened new positions at $12.82 which held a $2.8M unrealized loss.The new wallet withdrawing 900K TRUMP before extracting 100K TRUMP sparked questions about its future intentions as either long-term investor or strength exploiter.TRUMP whale activity | Source: Lookonchain Application of support from whales who choose to keep their positions may bring positive momentum which would attract new investors to join.The addition of sell orders signaled distribution which could drive prices down.Previous massive withdrawals preceded price increases but these latest MemeCore withdrawals show that such tactics do not consistently bring swift profit benefits.Careful observation is needed to determine if historic price movements will continue or take different paths.TRUMP Coin Price Action AnalysisThe 2-hour TRUMP/USDT chart had a swing long entry zone of $8.20-$8.35 as the most important area. The $8.20-$8.35 area provided strong historic support with the Point of Control (POC) at $8.36.TRUMP coin pricing tended to trade near $10.45 after struggling to sustain positions above the fundamental resistance mark at $11.00.A price move toward the $8.75 region which functioned as previous record-breakers could generate bullishness as traders would start to buy in anticipation of support in that range.A sustained decline into the $8.20–$8.35 zone could trigger a powerful upward movement that may result in price tests of $9.48, $9.97 and potentially $11.00.TRUMP 2-hour chart | Source: Trading View Failure to surpassed the $8.20 mark could result in downward price movement towards $8.00 for TRUMP coin and beyond which would challenge the bullish outlook.Market accumulation or intense defensive actions from bulls seemed likely from volume profile peaks at $8.36.The price points broke down with less conviction which indicated potential consolidation before continuing downward.Overall, $8.75 and $8.20–$8.35 remained pivotal. The zone’s resistance or support stood as a vital reference point for a potential trend extension or continuation following a bounce or failure result.Traders should observe high volume activity at each price level to back their trading decisions.Analysis of TRUMP’s Long/ShortTRUMPcoin Long/Short Ratio featured a 1.058 while long positions amounted to 51.41% and short positions comprised 48.59% of the investment fund.The ratio between Long/Short (Accounts) positions registered 2.55 which showed that 71.82% of accounts held long positions versus 28.18% short positions.The imbalanced distribution of positions indicated individual traders generally maintain bullish positions although the sizes of both positions remain balanced.The dominance of long positions could trigger an uptrend as rising demand existed in the market.TRUMP Long/Short | Source: Coinglass The ratio of positions indicated upcoming price swings as short sellers’ effects on market liquidations could intensify such movements.The presence of multiple long positions might create a price-exposure squeeze should momentum turn negative.The retail market optimism trend became noticeable but did not ensure future direction would align with the data. Buyer strength could trigger a market recovery for TRUMP coin, if their positions endure support levels.However, the market could experience an abrupt increase in downside volatility if sentiment shifts and liquidity runs dry.The post Whale Withdraws $10.78M TRUMP Coin, Will Price Drop to $8.20? appeared first on The Coin Republic.