Despite Whale Accumulation, Official Trump (TRUMP) Loses Direction, Enters Tense Phase

▲ Trump Coin (TRUMP) ©

Official Trump (TRUMP) is on the verge of breaking above the $3.64 upper resistance level, but on-chain indicators and derivatives data continue to show a tight tug-of-war without a clear directional bias.

According to investment media outlet FXStreet on February 20 (local time), TRUMP is trading around $3.50, approaching the upper boundary of the $3.02–$3.64 range that has persisted since February 6. Analysts say that a daily close and consolidation above $3.64 could open the door for additional gains. However, on-chain data reflects a balanced standoff between buyers and sellers, highlighting indecision in the market.

CryptoQuant summary data shows whale-sized orders detected in both spot and futures markets, while at the same time overheating signals and selling pressure remain elevated. Santiment’s supply distribution metric also presents mixed trends. Wallets holding between 100,000–1 million and 10 million–100 million tokens net purchased 15.11 trillion tokens from Tuesday to Friday, whereas wallets holding 1 million–10 million tokens net sold 15 trillion tokens over the same period. This suggests that even large investors remain divided in their convictions.

In the derivatives market, a slightly bearish tone is emerging. According to CoinGlass data, TRUMP’s funding rate has remained negative since late January, recording -0.016% as of Friday. This structure, in which short position holders pay long position holders, indicates that short-term bearish bets are currently dominant.

Technical indicators show gradual improvement. TRUMP is testing the upper boundary of the $3.02–$3.64 range, and a breakout could open a path toward $4.27, where the 50-day exponential moving average is located. The Relative Strength Index (RSI) has risen from 39 toward the neutral 50 level, signaling weakening bearish momentum, while the Moving Average Convergence Divergence (MACD) recently formed a golden cross and is expanding green histograms in positive territory. However, failure to break above $3.64 could lead to a retest of the $3.02 support level.

Ultimately, TRUMP has entered a phase of waiting for a decisive catalyst amid a mix of whale accumulation and selling, negative funding rates, and improving technical indicators. Whether it can break above the upper resistance level is likely to serve as a key inflection point for the short-term trend.

Disclaimer: This article is for investment reference only and we are not responsible for any investment losses resulting from its use. The content should be interpreted solely for informational purposes.