A whale collected 22 million TRUMP tokens worth approximately $36.51 million after moving Binance’s assets to a newly created wallet.
The transaction immediately attracted market attention as it removed a significant portion of the supply from a major exchange.
One like that transfers have often reflected a long-term positioning rather than an immediate sales intent. However, one transfer alone did not confirm a trend reversal.
Instead, it highlighted the growing confidence of a major holder, despite Official Trump [TRUMP] trading near a key support area.
Currency outflows continued to reduce selling pressure
Spot exchange flows also supported the accumulation story during the last trading session.
TRUMP recorded a net outflow of $1.71 million, indicating that more tokens left exchanges than entered.
This pattern suggested that holders preferred self-custody rather than preparing assets for sale.
As a result, immediate pressure on the sell side remained limited despite recent price weakness.
However, foreign exchange outflows alone did not guarantee a bullish reversal as demand still had to absorb existing supply.
If the pullbacks were to continue alongside new buying interest, TRUMP could build a stronger base for higher prices.
Can TRUMP defend the crucial support at $1.56?
TRUMP continued to defend the $1.56 support zone after rejecting lower prices several times in June.
Buyers repeatedly entered near this level, preventing sellers from continuing the broader downtrend. The last daily candle also closed around $1.65, indicating that demand remained active above support despite repeated selling attempts.
However, the asset was still trading below the key resistance levels at $2.22 and $3.00, putting pressure on the broader trend.
As a result, the price remained trapped within a clearly defined range, rather than confirming a recovery.
TRUMP’s technical structure also remained fragile, despite the support. On the daily chart, the RSI stood at 38.51, while the moving average stood at 43.45, indicating that buying momentum has not yet fully recovered.
Although the indicator remained below the neutral 50 level, it remained well above the oversold area, leaving room for either direction.
If buyers were to maintain control above $1.56, TRUMP could attempt another move toward the initial resistance before targeting higher levels.
Short liquidity above $1.70 is attracting attention
The latest Liquidation Heatmap showed dense clusters of short liquidity between $1.70 and $1.74.
These positions represented the closest upside target if buyers were to push TRUMP above current prices.
Meanwhile, liquidity below the market appeared relatively light after recent declines cleared nearby leveraged positions.
That imbalance shifted attention to the overhead cluster, as a rally in that zone could force short sellers to close their positions.
Such liquidations could accelerate buying momentum over a short period of time.
However, buyers had to defend the $1.56 support before challenging the higher liquidity zones.
If support holds, TRUMP could expand into the $1.70 to $1.74 range and trigger a broader short squeeze.
Final summary
- Moving 22 million TRUMP tokens from Binance reduced the immediately available exchange supply and signaled longer-term conviction.
- TRUMP repeatedly defended the $1.56 level but still traded below the $2.22 and $3.00 resistance zones.