The post Eric Trump Backs $TRUMP Token While Price Faces Bearish Pressure—Is a Rebound Coming? appeared first on Coinpedia Fintech News
As political and crypto narratives continue to intersect, the Trump family’s crypto ambitions are once again making headlines. Following a heated dispute over an unauthorized Official TRUMP wallet, Eric Trump has stepped in to clarify the Trump family’s official stance. Besides, the price of this popular token continues to struggle under bearish technical pressure. Now the question emerges whether the TRUMP price rises above $13 and initiates a fresh upswing or drops back to $8, triggering millions of liquidations.
Eric Trump Confirms Long-Term TRUMP Holdings
In a move that surprised some market watchers, Eric Trump officially confirmed that World Liberty Financial, a financial firm linked to President Trump’s family, has acquired a substantial holding of TRUMP tokens as part of its long-term treasury strategy. The announcement came shortly after the public confusion over the digital wallet.
According to Eric Trump, this accumulation is a part of a broader strategic positioning in the crypto space and aims to establish WLFI as a serious player in the emerging crypto niche. Despite this, the price of the OFFICIAL TRUMP token continues to trade within a bearish structure.
What’s Next for the TRUMP Price Rally?
As mentioned before, the price remains under pressure despite the Trump family’s support in the broader market. Following the WLFI news, the token saw a modest bounce of around 6.4%, but the move retraced quickly. The market is currently showing lower highs & weakening momentum, with no confirmed breakout above key resistance, while technicals remain neutral to bearish.
As seen in the above chart, the TRUMP price is stuck within a descending parallel channel and is working hard to validate a bullish reversal. Moreover, the RSI also displays a similar movement, signaling the rally could be gaining strength henceforth. On the other hand, the supertrend has turned bearish, which could push the prices below the support of the channel. Therefore, the upcoming weekend may have a huge impact on the upcoming price action.