According to reports from AMBCrypto, Official Trump (TRUMP) has experienced significant downward pressure, falling 12.8% since Sunday's daily close after closing the weekly trading session 5% in the red. The memecoin was highlighted as a weekly loser in a recent AMBCrypto report, with bearish drivers including relatively weak altcoin sentiment over the past two weeks and the wipeout of long liquidations that forced prices lower through market sell orders. However, the token's decline comes as President Trump's volatile economic policies have created broader market uncertainty, with his approval rating on the economy falling to 30% in April according to an AP-NORC poll.
As reported by AMBCrypto, TRUMP has fallen below the 23.6% extension level at $2.36, which previously acted as support on April 29th and 30th. The token has also breached the 50% Fibonacci retracement level at $4.4, which was expected to provide bounce opportunities to resistance levels of $4.72 and $5.19. The moving averages indicate bearish momentum, while the On Balance Volume (OBV) is sliding lower, signaling steady selling pressure. This technical breakdown occurs as Trump's economic policies have created additional headwinds for the cryptocurrency market.
President Trump's economic policies have created significant ripple effects across capital markets and household budgets. According to estimates by Illinois Governor JB Pritzker and California Governor Gavin Newsom, Trump's tariffs cost ordinary families an average of $1,700. The tariffs and trade war have raised concerns about a 'widespread collapse of American agriculture,' according to an open letter signed by 27 former U.S. officials. The Center for American Progress analysis indicates that Trump's policies have reduced jobs, particularly in manufacturing, and stagnated wages. Investors are responding to this economic uncertainty by reallocating assets and seeking traditional safe havens such as gold, coinciding with periods of weakness in the U.S. dollar against foreign currencies.
According to the analysis from AMBCrypto, the 1-hour chart shows a selling opportunity with TRUMP testing and being temporarily rejected from the 50% Fibonacci retracement level at $2.33. This pattern is similar to what was observed on the 1-day timeframe from mid-April. The report suggests traders can set stop losses above $2.42 as a TRUMP rally above this swing high would invalidate the bearish outlook. A potential bounce toward the $2.35-$2.39 golden pocket could offer better risk-to-reward trading opportunities. The technical setup reflects broader market uncertainty driven by Trump's policy decisions.
