Hold onto Your Hats! TRUMP Token Braces for a Wild Ride as Massive Unlock Looms

Price Action Heats Up

Get ready, folks! The TRUMP token is on the edge of its seat as we approach a massive unlock event that's about to shake things up. Right now, it's trading at a solid $9.90, up 4% in the last 24 hours and a cool 16% since July started. But hold up, it's still a whopping 86% off its all-time high of $73.43 from back in January.

The Big Unlock: 90 Million Tokens Set Free

Here comes the biggie: 90 million TRUMP tokens, that's a hefty 45% of what's out there right now, are about to hit the market on July 18 at midnight UTC. We're talking about $890 million worth of tokens that early birds and the founding crew will be able to play with.

Only 20% of TRUMP's total 1 billion tokens have seen the light of day so far, making this one of the most critical moments in its journey. With so many new tokens flooding in, we could see some serious selling pressure if those early investors decide to cash in.

Trading Frenzy Before the Storm

And boy, are the markets buzzing! TRUMP's 24-hour trading volume has skyrocketed to over $1.25 billion, a jaw-dropping 169% spike from yesterday. On the futures front, we're seeing a 157% jump to $2.06 billion in trading volume, with open interest growing nearly 8% to $466 million. It's clear as day: traders are all eyes on this unlock and positioning themselves like there's no tomorrow.

Technical Indicators Flash Green

Looking at the charts, TRUMP's been on a steady climb, comfortably holding above the $9.50 mark. The Bollinger Bands are starting to spread out, hinting at some wild price swings ahead. The RSI is sitting pretty at 57.6, not too hot, not too cold, suggesting the market's still got room to move either way.

And guess what? Momentum, MACD, and the awesome oscillator are all giving us those early bullish vibes. Plus, the short-term moving averages - 10-, 20-, and 50-day lines - are all lining up to support the current prices.

Potential Pitfalls and Upsides

Now, if those unlocked tokens hit the sell button hard, we could see TRUMP dip below $9.15, the 20-day SMA. A break through that could send it tumbling to $8.90, a spot it chilled at earlier this month.

If things get really hairy, we might see it dragged down to the $8.00-$8.20 range, or even worse, retesting the support at $7.50 or $6.80, levels it hit back in late June.

But hey, if those early holders decide to hang tight or if there's a surge in demand, TRUMP could keep its rally going. Keep an eye on that $9.50 support - if it holds, we could see a push towards $10.05, just above the recent resistance zone.

Buckle up, crypto fans! The TRUMP token's about to take us on a rollercoaster ride. Stay tuned!