TRUMP Meme Coin Price Prediction: Trump Postpones Tariff Deadline, Official Token Release Signals Recovery

Today (8), during the Asian early trading session, the official meme coin of President Trump, TRUMP, fell to 8.52 USD. This is slightly above the support level of 8.43 USD. The token was launched a few days before Trump's inauguration in January, showing signs of widespread consolidation before breaking through the resistance level of 10.00 USD.

According to Bloomberg, Trump announced the first letter of commitment, threatening to impose higher tariffs on major trading partners, but he hinted that he is still willing to engage in further negotiations and has postponed the plan to raise tariffs until at least August 1.

Trump first issued a notice announcing his intention to impose a 25% tariff on goods from Japan and South Korea. Later in the afternoon, he released a dozen notices outlining plans to impose tariffs on foreign goods from trade partners such as South Africa, Indonesia, Thailand, and Cambodia.

However, Trump hinted at the White House later on Monday that there might be more negotiations and delays, stating that the notification "is not 100% certain" and suggesting that he remains open to negotiations.

CoinGlass data shows that on Monday, the average open interest for TRUMP futures exceeded $357 million. The green line in the chart below indicates that market interest in the token remains stable, although it has significantly declined compared to the peaks in April and May (over $800 million).

(Source: Coinglass)

TRUMP Technical Outlook: Continuation of Consolidation Period

FXStreet analyst John Isige stated that the TRUMP coin is holding above the support level of 8.43 USD, reflecting the overall lackluster sentiment in the cryptocurrency market. Technical indicators such as the Relative Strength Index (RSI) have exacerbated traders' indecision.

The RSI is below the midpoint and above the oversold zone, indicating that selling pressure is decreasing, but the price trend lacks a catalyst to break through the 10.00 USD resistance level, which was last tested in early June and at the end of March.

According to the Moving Average Convergence Divergence (MACD), Trump is slightly bullish. As shown in the daily chart below, the blue MACD line is above the red signal line, which may support risk appetite as traders seek exposure.

Despite this, the TRUMP coin still faces the risk of falling below the support level of $7.11, which was tested after the U.S. announced tariffs on April 7. Currently, the coin's price is below the 50-day moving average (EMA) of $10.03 and the 100-day moving average of $11.62 in a downward trend. These levels may suppress recovery momentum and become potential pain points for the bulls.

(Source: Trading View)