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The Donald Trump price surged over 53% in the last 24 hours to trade at $0.009787 as of 5:05 a.m. EST as investors rush to buy the meme coin.
The meteoric rise in the TRUMP price followed the official withdrawal of current President Joe Biden from the 2024 presidential race.
My fellow Democrats, I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term. My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it’s been the best… pic.twitter.com/x8DnvuImJV
— Joe Biden (@JoeBiden) July 21, 2024
The Donald Trump Price Is Attempting To Flip A Major Resistance
4-hour chart for TRUMP/USD (Source: GeckoTerminal)
A positive price channel has formed on TRUMP’s 4-hour chart after the Donald Trump price printed a series of higher highs and higher lows over the past 48 hours. Recently, the crypto was also able to break above the major resistance level at $0.00987.
Closing a 4-hour candle above $0.00987 within the next 8 hours might lead to the meme coin flipping the resistance level into support. TRUMP could then have the technical foundation needed to keep trading within the ascending channel. The Donald Trump price might end up rising to as high as $0.01261 in the short term as a result.
On the other hand, the Donald Trump price failing to close a 4-hour candle above $0.00987 within the next 8 hours could invalidate the bullish thesis. In this alternative scenario, TRUMP might be at risk of dropping to the immediate support level at $0.00712.
Traders and investors will want to keep an eye on how the Donald Trump price reacts if it falls to $0.00712, because this level is also situated around the lower boundary of the bullish price channel. As such, a break below this point might be the start of a bearish trend reversal, which could see TRUMP fall to $0.00329.
Technicals Warn Bulls Are Losing Control Of The Donald Trump Price
Technical indicators on TRUMP’s 4-hour chart are starting to show bearish signs. The Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators warn the Donald Trump price might fall in the coming 24 hours.
Over the last 12 hours, RSI readings have oscillated between 70 and 75, which contradicts the movement seen in the Donald Trump price during the same period. This could be an early sign of a bearish divergence. What’s more, the RSI is currently sloped negatively, which signals that sellers are starting to chip away at bulls’ strength.
Meanwhile, the MACD Histogram is starting to level off. Traders might see this as a sign that TRUMP’s bullish momentum is starting to cool off.
If these bearish technical signs are validated, the Donald Trump price might soon drop below the $0.00987 mark.
While the Donald Trump price attempts to flip the $0.00987 resistance into support, traders and investors are flocking to the The Meme Games (MGMES), which many are calling the official meme coin of the 2024 Olympic Games.
Letting Investors Get Into The Olympic Spirit
Meme Games (MGMES) is a slightly unconventional ICO that aims to get investors into the spirit of the upcoming Olympic Games.
When purchasing the meme coin, buyers are prompted to select between 5 characters to take part in a virtual showdown. These characters are Doge the OG, Pepe the Versatile, Wif the Trendsetter, Brett the Conqueror, and Turbo the Speedster.
Once they have selected which character they would like to back, investors have the opportunity to earn bonus rewards. Since there are only 5 characters to choose from, investors have a 20% chance of unlocking the rewards should their selected character win.
The opportunity to earn these additional tokens will be made available with every purchase during the ongoing presale.
It has caught the eye of renowned YouTuber Jacob Crypto Bury, who says the meme coin has the potential to generate 100x returns for investors.
Investors Race To Buy MGMES
Investors are betting big on the future of Meme Games, with more than $214k already raised through the project’s ongoing presale. This is after the meme coin raised over $163k in just the first three days of its ICO going live.
Another factor that is appealing to investors is the lucrative staking opportunity on offer to buyers at this early stage.
Anyone who buys and locks up MGMES tokens will gain access to a 1,220% annual return.
Getting in on this opportunity is simple. The first step will be for buyers to acquire the token via the simple buy widget embedded on the project’s website. Once purchased, the tokens can be locked up through the staking page on the project’s website.
Purchase and stake MGMES here for an annual return of 1,220%. A price hike is coming in less than 4 days so buy before then to secure the best deal.
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