The meme coin market is feeling the heat as bearish sentiment sweeps across the broader crypto landscape. Two tokens in particular—TRUMP and Fartcoin—are now hovering near crucial support levels, with technical indicators suggesting that further downside could be on the horizon.
TRUMP Token: Struggling to Hold the Line
The Official Trump (TRUMP) token, which gained notoriety after a high-profile dinner event with President Trump and top holders, is now trading just above the $10.00 support level. This comes after a sharp sell-off that followed the actual dinner, which was met with protests and negative sentiment rather than the bullish excitement that accompanied the initial announcement. The token, which once surged to $16.43, is now down over 1% on the day, trading around $10.64 .
Technical analysis paints a cautious picture. The Moving Average Convergence Divergence (MACD) indicator has flashed a sell signal, with the MACD line crossing below the signal line and red histogram bars forming below zero. The SuperTrend indicator, which uses the Average True Range (ATR) to assess volatility, has also maintained a bearish outlook since late May. If TRUMP falls below the $10.00 mark, a further correction toward the $7.14 support level—last tested in April—could be likely.
TRUMP/USDT 4-hour chart
Fartcoin: Signs of Life After a Steep Drop
Fartcoin (FARTCOIN) has experienced a dramatic 45% decline from its May peak of $1.64, but there are early signs of a potential rebound. The Relative Strength Index (RSI) has climbed back to 36, moving out of oversold territory and hinting at a possible shift in momentum. However, Fartcoin remains below its key moving averages (50, 100, and 200-period EMAs), suggesting that sellers still have the upper hand.
If the downtrend continues, traders are watching support at $0.71 and a demand zone at $0.49—levels that previously acted as strong floors. A new MACD sell signal could accelerate the decline if selling pressure persists.
Market Context and What’s Next
The current environment for meme coins is shaped by broader market forces, including macroeconomic events and shifting trader sentiment. While token launches and exchange listings can boost demand and liquidity, negative news or technical breakdowns often trigger sharp sell-offs. For now, both TRUMP and Fartcoin are at critical junctures, and their next moves will likely be determined by whether buyers can defend these key support levels or if further declines are in store .
