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The MAGA price plunged 17% in the last 24 hours to trade at $3.323 as of 00:32 a.m. EST on trading volume that skyrocketed 91% to $13.6 million.
MAGA Price On A Bearish Trend – Incoming Bullish Trend Reversal?
The MAGA price had been in a clear uptrend in October, following a rising channel pattern from the $2.8 support level to the $5.5 resistance, according to data from GeckoTerminal.
Recently, there has been a breakdown from that channel, and the price is now moving downward in a falling channel. This shift suggests the trend has reversed to bearish in the short term.
With the recent downtrend, the price of MAGA now trades below both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the continued downtrend.
The Relative Strength Index (RSI) is 29.09, below the oversold threshold of 30. This signals that the asset may be oversold, and we could expect a potential bounce or at least a slowing of the downward momentum in the near future.
The price is near the 200-day SMA, often a critical support level. Combined with the oversold RSI, this may indicate the potential for a bounce, especially if volume picks up in the next few candles. If the bulls utilize the RSI being undervalued, the price of TRUMP could go through a trend reversal to $5.0.
Meanwhile, if the bears take charge of the price, the price of MAGA could plunge even further down, with $2.8 still acting as the possible support level.
Meanwhile, investors seeking opportunities in the PolitiFi segment of the crypto market might want to consider FreeDum Fighters ($DUM), a new project that has blasted past $225k in funds raised in less than a week since its launch.
According to analyst and YouTuber Jacob Bury, with over 43k subscribers, DUM has the potential to surge 10X when it launches.
FreeDum Fighters Presale Heads For $300K In Less Than A Week
FreeDum Fighters is a new crypto project that blends humor, politics, and gamification with a satirical twist on the US presidential election next month.
At its center is an epic face-off between two mechanized political icons who fight for dominance: MAGATRON and Kamacop 9000.
The project has a unique staking pool that rewards participants based on the political candidates they support.
When users invest in the presale, they are prompted to vote (stake) their $DUM tokens for one of the candidates.
Right now, the passionately patriotic Magatron offers an an annual staking yield of 463%, while the trailblazing feminist Kamacop 9000 boasts a stratospheric 1,847% return. That indicates that token holders are mostly voting for and staking Magatron.
Ready for this year's elections?
Get involved early by joining the @Freedum_Fighter elections between MAGATRON and Kamacop 🦅
Cast your vote by participating in the $DUM presale and using their stake-to-vote system 🗳️
Be sure to follow this project, you will not regret it.🔥🔥 pic.twitter.com/j452Rht1Lq
— Red (@Redlion35) October 17, 2024
If their chosen candidate wins a debate or significant favorable events arise, they will receive airdropped rewards added to their staked balance. Only those who have voted (staked) will qualify for these rewards.
DUM will be available on multiple blockchain platforms, including Ethereum (ETH), Binance Smart Chain (BSC), Base, and Solana (SOL).
Visit the official FreeDum Fighters website to buy $DUM tokens here using ETH, BNB, USDT, USDC, or SOL for $0.00005.
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