Trump Media & Technology Group Corp (NASDAQ:DJT) boasts an 82.88% gain over the past year. Yet recent months have tested the resolve of its bulls, with a 30.17% dip over six months and a 9.45% slide in the last month.

The Truth Social parent company is now exploring a cryptocurrency payment service, TruthFi, as reported by the Financial Times.

Is this the diversification move the stock needs to regain its upward momentum?

Read Also: Trump Media Trademark Filing For 'TruthFi' Hints At Potential Digital Wallets, Asset Trading

DJT Stock Chart: Bulls & Bears Playing Tug-O-War

DJT's technical indicators paint a mixed picture.

Chart created using Benzinga Pro

DJT stock, at $30.77, sits above its eight-day simple moving average (SMA) of $29.75, offering a short-term bullish signal.

Yet, its 20-day SMA of $33.53 looms as a resistance point, giving a bearish signal. The 50-day SMA at $26.60 reinforces a bullish undertone for the intermediate term, but the 200-day SMA at $34.45 suggests broader bearish pressure.

Momentum indicators add complexity: the moving average convergence/divergence (MACD) indicator sits at 0.18, a bullish signal, while the relative strength index (RSI) at 50.16 hovers in neutral territory.

DJT stock traders are likely watching closely for any confirmation of a breakout or breakdown from these levels.

TruthFi: Crypto Catalyst Or Diversification Dilemma?

Trump Media's trademark application for TruthFi hints at ambitions to leverage the crypto wave. If launched, TruthFi could extend beyond payment processing to include trading and asset management, positioning DJT as more than a social media play. The nascent nature of these plans — compounded by broader market skepticism — leaves the timeline and impact uncertain.

Trump Media is also reportedly interested in buying Bakkt. Shares of the crypto custody startup skyrocketed 160% on the rumors, but no concrete deal has materialized.

President-elect Donald Trump's signaling of crypto-friendly regulation will likely benefit DJT stock as well.

What's Next For DJT Stock?

While bulls may see Trump Media's entry into crypto as the next growth catalyst, bears argue the stock's technical resistance and uncertain fundamentals warrant caution.

For now, traders find themselves at an inflection point, waiting to see whether TruthFi's promise can materialize into profits — and whether DJT can move the needle in either direction.

• A Hedge Fund Hit Big On Trump's Rumored Crypto Acquisition And Could Be Up $14.15 Million

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