{"id":595888,"date":"2024-11-08T08:49:22","date_gmt":"2024-11-08T08:49:22","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=595888"},"modified":"2024-11-08T08:49:22","modified_gmt":"2024-11-08T08:49:22","slug":"maga-price-prediction-trump-soars-23-after-fomc-cuts-interest-rates-but-investors-flock-to-this-new-politifi-token-offering-720-staking-apy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/maga-price-prediction-trump-soars-23-after-fomc-cuts-interest-rates-but-investors-flock-to-this-new-politifi-token-offering-720-staking-apy","title":{"rendered":"MAGA Price Prediction: TRUMP Soars 23% After FOMC Cuts Interest Rates, But Investors Flock To This New PolitiFi Token Offering 720% Staking APY"},"content":{"rendered":"

The MAGA price soared 23% in the last 24 hours <\/span>to trade at $2.07<\/span><\/a> as of 11:33 p.m. EST on trading volume that plunged 68% to $25.5 million.<\/span><\/p>\n

This comes after the Federal Reserve cut interest rates by 25 basis points to a target range of 4.50%-4.75%.<\/span><\/p>\n

MAGA Price Poised For A Bullish Trend Reversal<\/h2>\n

The MAGA price appears to be moving within a descending channel, indicated by the two downward-sloping trend lines. This pattern is typically bearish, showing that the price is consistently making lower highs and lower lows.<\/span><\/p>\n

However, descending channels can sometimes lead to bullish reversals if there is a breakout above the upper trendline, although that would require strong buying pressure.<\/span><\/p>\n

TRUMP has found support on the lower boundary of the channel around $1.82, which could suggest a bullish trend reversal, according to data from <\/span>GeckoTerminal<\/span><\/a>.<\/span><\/p>\n

As a result of the falling channel pattern, the MAGA price has been trading below both the 50-day and 200-day Simple Moving Averages (SMAs).<\/span><\/p>\n

The Relative Strength Index (RSI) is at 35.53, which is near the oversold territory (below 30). While it isn’t technically oversold, it’s approaching that level, which could indicate a weakening of selling pressure. However, RSI in a downtrend often hovers around these lower levels, so it doesn’t necessarily indicate a reversal by itself.<\/span><\/p>\n

If the bearish trend continues, the price of MAGA could plunge further down to the $1.5 support zone.<\/span><\/p>\n

\"MAGA
TRUMPUSD Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

Meanwhile, the oversold RSI and the bounce from the lower boundary of the channel suggests a looming bullish reversal pattern. In this scenario, TRUMP could soar towards the upper boundary of the channel, and around the 200-day SMA at $3.34.<\/span><\/p>\n

Meanwhile, investors are also buying into another PolitiFi project called<\/span> FreeDum Fighters ($DUM)<\/span><\/a>, which has soared past $450k in funds raised in its presale.<\/span><\/p>\n

According to analyst and YouTuber Jacob Bury, with over 43k subscribers, DUM can surge 10X when it launches.<\/span><\/p>\n