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The MAGA price has pumped 23% in the last 24 hours to trade at $3.94 as of 3:25 a.m. EST on a 126% surge in trading volume to $48 million.
The increase in the MAGA price came as Donald Trump closed in on victory in the US election, with Trump himself claiming victory and world leaders congratulating him.
Congratulations President-elect @realDonaldTrump on your historic election victory.
I look forward to working with you in the years ahead. pic.twitter.com/QYHLd4k4EG
— Keir Starmer (@Keir_Starmer) November 6, 2024
MAGA Price May Continue The Uptrend Above The Double Bottom
The TRUMP/USD pair in the 4-hour timeframe shows a promising bullish setup. The price is currently trading around $4.00, reflecting a modest gain of 1.56%. This movement has positioned the price above two simple moving averages: the 50-period SMA (blue line) at $3.65, and the 200-period SMA (green line) at $3.97.
A bullish crossover occurring between these two moving averages, where the 50-period SMA crossed above the 200-period SMA. This crossover often signals a shift towards an uptrend, reinforcing the short-term bullish sentiment.
TRUMPUSD Analysis Source: Dextools.io
The support zone evident around $3.00, indicates that buyers have previously stepped in to prevent further decline, forming a reliable foundation for upward movement. The formation of a parabolic curve, depicted by the dotted line on the chart, suggests that buying momentum is accelerating. If the curve holds, it could propel the price higher in the near term.
MAGA Price Technicals Signal Further Bullish Momentum
The MACD indicator shows a bullish crossover, with the MACD line crossing above the signal line. The histogram bars are also green, indicating that momentum is favoring the bulls, further supporting a possible continuation of the uptrend for the MAGA price.
Meanwhile, the Relative Strength Index (RSI) stands at 61.25. Although above the neutral level of 50, it remains below the overbought threshold of 70, suggesting that there’s still room for the price to rise before reaching potentially overbought levels.
With the price trading above both moving averages, the bullish MA crossover, and the supportive parabolic curve, the overall trend appears to be positive. If the upward momentum persists, TRUMP/USD could target the next resistance level near $4.50 and potentially higher.
However, a failure to hold above the support zone around $3.00 could lead to a pullback or consolidation phase.
FreeDum Fighters Presale Storms Past $441k
Meanwhile, as the MAGA price surges, investors are also flocking to buy FreeDum Fighters ($DUM), a meme coin project that taps into the excitement around the US election.
The project, which is headed for $500k in funds raised in its presale, offers investors a blockchain version of the showdown between Donald Trump and Kamala Harris.
You can have a better America.
Choose to vote for MAGATRON or Kamacop 9000. Trump or Kamala aren't gonna let you have fun like we do. pic.twitter.com/80EScy6BGX
— FreeDum Fighters (@Freedum_Fighter) November 5, 2024
This bullish momentum has also caught the attention of YouTuber Jacob Bury, with over 43k subscribers, who rates DUM among the best meme coins to buy now as the meme coin supercycle approaches.
Investors who join the FreeDUM Fighters community can stake their $DUM tokens to back either MAGATRON or Kamacop 9000.
If you stake for MAGATRON, you get to enjoy a huge 280% annual return, while Kamacop supporters rake in a jaw-dropping 736%.
Today is the day for @Freedum_Fighter! Election day is here and Freedum Fighter's #memecoin #CryptoPresale is on fire!
🔷 FREEDUM FIGHTERS – Presale 👉 https://t.co/LWwKkeK1zG pic.twitter.com/5WCu8mBCFT
— Austin Hilton (@austinahilton) November 5, 2024
But that’s not all. Being a $DUM holder lets you participate in heated debates and earn extra rewards based on how your chosen candidate performs.
Right now, $DUM tokens are priced at just $0.00007 and can be purchased using ETH, BNB, USDT, USDC, or SOL. Interested investors should buy DUM before the price increases in a little more than 3 days.
Buy DUM tokens on the official website here.
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