Official Trump Price Plummets, Analysts Predict Potential Dive Towards $1.31

The price of Official Trump has been experiencing a downward trend in recent times, with a significant drop of 12.8% since Sunday. This decline is attributed to several bearish drivers, including the relatively weak sentiment surrounding altcoins over the past two weeks.

Another contributing factor to this downfall is the wipeout of long liquidations, which has led to an increase in market sell orders and further pressure on the price. As a result, the 50% Fibonacci retracement level at $4.4 was breached, causing prices to plummet.

The moving averages indicate bearish momentum, while the OBV is sliding lower, signifying steady selling pressure. Furthermore, the extension level at $2.36 has been ceded to the bears, making it likely that the price will proceed towards the $1.31 support in the coming weeks.