A whale accumulated 22 million TRUMP tokens worth approximately $36.51 million after moving the holdings from Binance into a newly created wallet.
The transaction immediately attracted market attention because it removed a substantial amount of supply from a major exchange.
Such transfers have often reflected long-term positioning instead of immediate selling intent. However, one transfer alone did not confirm a trend reversal.
Instead, it highlighted growing confidence from a large holder despite Official Trump [TRUMP] trading near a major support area.
Exchange outflows continued to reduce selling pressure
Spot exchange flows also supported the accumulation narrative during the latest trading session.
TRUMP recorded a net outflow of $1.71 million, indicating that more tokens left exchanges than entered them.
This pattern suggested holders preferred self-custody instead of preparing assets for sale.
As a result, immediate sell-side pressure remained limited despite recent price weakness.
However, exchange outflows alone did not guarantee a bullish reversal because demand still needed to absorb existing supply.
If withdrawals continued alongside fresh buying interest, TRUMP could build a stronger base for higher prices.
Can TRUMP defend the crucial $1.56 support?
TRUMP continued defending the $1.56 support zone after rejecting lower prices several times throughout June.
Buyers repeatedly stepped in near this level, preventing sellers from extending the broader downtrend. The latest daily candle also closed around $1.65, showing demand remained active above support despite repeated selling attempts.
Even so, the asset still traded below the key resistance levels at $2.22 and $3.00, leaving the broader trend under pressure.
As a result, the price remained trapped within a well-defined range instead of confirming a recovery.
TRUMP’s technical structure also remained fragile despite holding support. The daily chart showed the RSI at 38.51, while its moving average stood at 43.45, indicating buying momentum had yet to fully recover.
Although the indicator stayed below the neutral 50 level, it remained comfortably above oversold territory, leaving room for either direction.
If buyers maintained control above $1.56, TRUMP could attempt another move toward 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.
Those positions represented the nearest upside target if buyers pushed TRUMP above current prices.
Meanwhile, liquidity below the market appeared relatively light after recent declines cleared nearby leveraged positions.
That imbalance shifted attention toward the overhead cluster because a rally into that zone could force short sellers to close positions.
Such liquidations could accelerate buying momentum over a short period.
However, buyers first needed to defend the $1.56 support before challenging higher liquidity zones.
If support continued holding, TRUMP could extend toward the $1.70 to $1.74 range and trigger a broader short squeeze.
Final Summary
- Moving 22 million TRUMP tokens off Binance reduced immediately available exchange supply and hinted at longer-term conviction.
- TRUMP repeatedly defended the $1.56 level, but it still traded below the $2.22 and $3.00 resistance zones.
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