Political and crypto narratives have once again collided as the Trump family’s crypto aspirations take center stage. Eric Trump has intervened to clarify the official stance of the Trump family following a dispute over an unauthorized Official TRUMP wallet. Meanwhile, the price of the popular token is struggling under bearish technical pressure, prompting speculation on whether the TRUMP price will rise above $13 or drop back to $8, potentially triggering millions of liquidations.
In a surprising move, Eric Trump has confirmed that World Liberty Financial, a financial firm associated with President Trump’s family, has acquired a significant holding of TRUMP tokens as part of its long-term treasury strategy. This announcement came in the wake of public confusion surrounding the digital wallet.
Despite this strategic accumulation, the price of the OFFICIAL TRUMP token continues to trade within a bearish structure. The Trump family’s support in the broader market has not been enough to alleviate the downward pressure on the token’s price.
The TRUMP token saw a modest bounce of around 6.4% following the WLFI news, but the move quickly retraced. The market is currently showing lower highs and weakening momentum, with no confirmed breakout above key resistance levels. Technical indicators remain neutral to bearish.
The TRUMP price is currently confined within a descending parallel channel, struggling to validate a bullish reversal. The RSI indicator suggests that the rally may be gaining strength, while the supertrend has turned bearish, potentially pushing prices below the channel’s support level. The upcoming weekend could have a significant impact on the token’s price action.
