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The Official Trump price edged up over 1% in the past 24 hours to trade at $8.85 as of 3:25 a.m. EST, with trading volume down 30% to $178 million.
That rise in the TRUMP price comes after US President Donald Trump said on Wednesday that he would likely, in the next two to three days, nominate a candidate out of a short-list of three to serve the remaining months of a soon-to-be-vacant position on the Federal Reserve’s Board of Governors.
“We started the interviewing process,” Trump told reporters in the Oval Office, saying that Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Vice President JD Vance were all involved.
The TRUMP price has been down 6% in the last week alone. Can the bulls stage a trend reversal?
Official Trump Price Teeters: Will Bulls Regain Control Or Weaken Below Support?
The TRUMP price chart on the 8-hour timeframe shows a market that recently experienced a short-term bullish rally, peaking at around $11.80 before retracing significantly.
Official Trump price action has since moved into a downward-sloping channel, indicating a corrective phase.
However, the most recent candles show the price of Official Trump attempting to consolidate near the $8.85 level, just below a key descending trendline and facing resistance around the 23.6% Fibonacci retracement zone.
The previous rally failed to sustain momentum above the $11.00 mark, suggesting a loss of bullish strength, as GeckoTerminal data shows.
The 50 Simple Moving Average (SMA) is currently moving down and is moving just above TRUMP at $9.55, acting as dynamic resistance. This reinforces the bearish momentum.
Moreover, the Relative Strength Index (RSI) sits at 42.73, which is below the neutral 50 level, suggesting that bears still have control, though the market isn’t in oversold territory.
Unless TRUMP breaks above the descending trendline and reclaims the 50 SMA as support, the price is likely to continue trending sideways or drop lower, which may see a retest of the $8.47 support level.
Conversely, if the bulls manage to stage a reversal, immediate resistance lies at $9.26 (0.382 Fib), and a push above that could open the door toward $10.53 (0.618 Fib).
Meanwhile, opportunistic investors are buying a new ICO crypto called Snorter Token (SNORT). According to Jacob Crypto Bury, a popular crypto YouTuber with over 57.5K subscribers, SNORT could soar 100X on launch.
Snorter Token Presale Heads For $3 Million
The Snorter Token is a new meme coin and utility token powering the Snorter bot, a Telegram-based crypto trading bot. Snorter bot promises advanced capabilities, including meme coin sniping, copy trading, and limit orders, making it one of the most exciting bots for traders.
Its advanced algorithms help investors navigate volatile markets, automate risk management, and capitalize on opportunities faster than manual trading.
The bot is entering a space where most users currently favor Trojan and BonkBot, two bots that have gained prominence on the Solana blockchain for their affordable fees and secure transactions.
Starting to find these everywhere. pic.twitter.com/vVTQGWynbK
— Snorter (@SnorterToken) August 3, 2025
However, Snorter bot beats the competition in terms of fees. By simply holding the SNORT token, traders reduce their execution fees from 1.5% to 0.85%, undercutting other Telegram crypto trading bots.
Investors have already injected over $2.83 million into the project, as the ICO races towards $3 million.
In addition to its trading features, staking rewards currently sit at 154%, but this decreases as more investors join the ICO.
The presale is now live, and the token is selling at $0.1005. Tokens can be bought with SOL, ETH, BNB, or a bank card, and staked directly on the official website.
Interested investors will want to buy before the next presale price hike in about 1 day.
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