A whale has accumulated 22 million TRUMP tokens worth approximately $36.51 million after transferring the holdings from Binance to a newly created wallet.
The deal immediately attracted market attention because it removed a significant amount of supply from the main exchange.
This is amazing Transfers They often reflect long-term positioning rather than immediate selling intent. However, a single move alone did not confirm a trend reversal.
Instead, it highlighted the growing confidence of a senior despite that Official Trump (Trump) Trading near a major support area.
Exchange outflows continued to reduce selling pressures
Spot exchange inflows also supported the accumulation narrative during the latest trading session.
Trump recorded a net outflow of $1.71 million, indicating that more tokens left trading platforms than entered them.
This pattern suggests that bondholders prefer self-custody rather than preparing assets for sale.
As a result, direct sell-side pressures have remained limited despite recent price weakness.
However, exchange outflows alone did not guarantee an upward reversal because demand still needs to absorb current supply.
If withdrawals continue along with new buying interest, Trump can build a stronger base for higher prices.
Can Trump defend the critical $1.56 support?
Trump continued to defend the $1.56 support area after rejecting lower prices several times throughout June.
Buyers repeatedly intervened near this level, preventing sellers from extending the broader downtrend. The last daily candle also closed around $1.65, showing that demand remained active above support despite repeated selling attempts.
However, the asset is still trading below key resistance levels at $2.22 and $3.00, leaving the broader trend under pressure.
As a result, the price remained confined within a well-defined range rather than confirming a recovery.
Trump’s technical structure also remains fragile despite the support he enjoys. The daily chart showed the RSI at 38.51, while its moving average stood at 43.45, indicating that the buying momentum has not yet fully recovered.
Although the index remained below the neutral 50 level, it remained comfortably above the oversold zone, leaving room for either direction.
If buyers maintain control above $1.56, Trump may try to move back towards the first resistance before targeting higher levels.
Short liquidity above $1.70 draws attention
The latest liquidation heatmap showed dense clusters of short liquidity between $1.70 and $1.74.
These positions represent the closest upside target if buyers push Trump above current prices.
Meanwhile, liquidity under the market appeared relatively light after recent declines cleared out leveraged positions nearby.
This imbalance has shifted attention towards the general group because a rally in that area may force short sellers to close their positions.
Such a liquidation can accelerate buying momentum within a short period.
However, buyers first need to defend the support level at $1.56 before challenging higher liquidity areas.
If support continues to hold, Trump could extend towards the $1.70 to $1.74 range and trigger broader selling pressure.
Final summary
- The transfer of 22 million TRUMP tokens from Binance immediately reduced the exchange’s available supply and hinted at long-term condemnation.
- Trump has repeatedly defended the $1.56 level, but it is still trading below the $2.22 and $3.00 resistance areas.
