{"id":594975,"date":"2024-11-05T15:10:43","date_gmt":"2024-11-05T15:10:43","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=594975"},"modified":"2024-11-05T15:10:43","modified_gmt":"2024-11-05T15:10:43","slug":"maga-hat-price-prediction-maga-slumps-6-as-us-election-day-gets-underway-and-traders-pivot-to-this-politifi-rival-with-756-staking-apy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/maga-hat-price-prediction-maga-slumps-6-as-us-election-day-gets-underway-and-traders-pivot-to-this-politifi-rival-with-756-staking-apy","title":{"rendered":"MAGA Hat Price Prediction: MAGA Slumps 6% As US Election Day Gets Underway And Traders Pivot To This PolitiFi Rival With 756% Staking APY"},"content":{"rendered":"

The MAGA Hat price <\/span>plunged<\/span><\/a> over 6% in the last 24 hours to trade at $0.0001791 as of 7:29 a.m. EST as investors offload their holdings in the political meme coin.<\/span><\/p>\n

The drop in the MAGA price comes as American voters gear up to vote in today’s US election. Odds of a Donald <\/span>Trump<\/span><\/a> victory have jumped 5% on <\/span>Polymarket<\/span><\/a> in the last 24 hours. After the uptick, Trump’s chances of taking the White House stand at 62%.<\/span><\/p>\n

MAGA Hat Price Oscillating Around A Major Price Level<\/span><\/h2>\n

\"MAGA<\/p>\n

4-hour chart for MAGA\/USD (Source: <\/span>GeckoTerminal<\/span><\/a>)<\/span><\/p>\n

The MAGA Hat price is hovering around the $0.0001780 resistance level and is attempting to flip the major price level into support. Closing a 4-hour candle above this mark within the next 12 hours could give the political meme coin the foundation needed to rise in the following 24 hours. MAGA might then try to overcome the $0.0002302 barrier to rise to as high as $0.0002908.<\/span><\/p>\n

However, the MAGA Hat price failing to establish a position above $0.0001780 within the next 12 hours could invalidate the bullish thesis. Traders might start to exert more sell pressure on the <\/span>meme coin<\/span><\/a> in this alternative case. This could then lead to MAGA falling to the immediate support level at $0.0001241.<\/span><\/p>\n

Technical Indicators Warn The MAGA Hat Price Might Drop Some More<\/span><\/h2>\n

Looking at indicators on MAGA’s 4-hour chart, there are early warning signs that the MAGA Hat price will enter into a short-term negative trend in the coming few hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are showing bearish signs that traders and investors will want to take note of.<\/span><\/p>\n

Currently, the MACD line is bullishly positioned above the MACD Signal line. Although this could suggest that buyers are in control, the narrowing gap between these two technical indicators warns that a bearish crossover might soon take place. <\/span><\/p>\n

RSI readings are also below the 50 benchmark, after the indicator’s value dropped from the high 50s to its current reading at 48 in the last 24 hours. A potential early confirmation that the MAGA Hat price has entered a bearish cycle could be if the RSI line starts to slope negatively.<\/span><\/p>\n

With the US election day underway, investors are pivoting to a new political meme coin called <\/span>FreeDum Fighters (DUM)<\/span><\/a>, which <\/span>YouTuber Jacob Bury, with more than 43k subscribers, says might 10X after launch.<\/span><\/p>\n