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The MAGA price dropped 5% in the last 24 hours to trade at $1.32 as of 11:24 p.m. EST on trading volumes that plummeted 18% to $6.2 million.
MAGA Price On A Bearish Trend
According to the TRUMP/USD chart analysis on GeckoTerminal, the MAGA price on the daily time frame indicates a bearish trend.
Prices are currently below both the 50-day and 200-day Simple Moving Averages (SMAs), with a descending channel pattern that suggests continued downward pressure.
This is generally a bearish signal, although descending patterns can sometimes signal a potential reversal if the asset’s price breaks above the upper boundary of the pattern.
The Relative Strength Index (RSI) is at 32.67, which is close to the oversold level of 30. An RSI below 30 is considered oversold and could indicate that the asset is due for a short-term bounce.
However, at this level (just above oversold), it suggests that there may still be selling pressure. However, the asset could be nearing a point where it’s attractive to buyers seeking to profit from a potential reversal.
If this momentum continues, the price of MAGA could plunge further down, with $1.0 possibly acting as the immediate support zone.
If buyers take charge at this level, it may lead to a bullish trend reversal, which could push the MAGA price back to the $5.50 resistance along the 200-day SMA.
Meanwhile, investors are buying into a new PolitiFi project, FreeDum Fighters (DUM), with its presale blasting past $504k in funds raised since its launch.
According to analyst and YouTuber Jacob Bury, with over 43K subscribers, DUM can potentially surge 10X when it launches.
FreeDum Fighters: The Next PolitiFi Project To Explode?
FreeDum Fighters features a digital battlespace where political protagonists of various stripes can go head-to-head. Tracked events from campaigns and beyond feed into the ecosystem, which is powered by a unique voting system.
The first contest – between MAGATRON and Kamacop 9000 – is a mechanized version of the Trump v Harris clash. Magatron currently has 65% of the vote, while Kamacop only has 35%.
This innovative coin merges cryptocurrency with social and political engagement, making it a timely project amid post-election discussions. By choosing a side, holders support their preferred candidate and participate in a unique digital movement.
Please don't cut the spend that is used to keep MAGATRON and Kamacop in tip top shape.
We need them when the Martians attack 👽 https://t.co/AeceCPvD2w
— FreeDum Fighters (@Freedum_Fighter) November 15, 2024
DUM holders have multiple ways to back their chosen champion and earn substantial rewards in return. The simplest method involves staking through two protocols, each belonging to a candidate. By staking DUM coins in either pool, investors earn passive income at competitive rates. Each staking pool offers varying rewards.
Right now, the passionately patriotic Magatron offers an annual staking yield of 257%, while the trailblazing feminist Kamacop 9000 boasts a stratospheric 610% return.
DUM will be available on multiple blockchain platforms, including Ethereum (ETH), Binance Smart Chain (BSC), Base, and Solana (SOL).
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