Maga prices have plunged more than 13% in the past 24 hours and are currently trading at $1.49 as of 4:38 a.m. ET as investors reduce their holdings of the political meme coin.
The drop in MAGA prices came despite US President-elect Donald Trump announcing the appointment of Tesla founders Elon Musk and Vivek Ramaswamy to head a new government department called the Department of Government Efficiency (DOGE).
Maga Price Rejected by Major Resistance
Maga price was rejected by the $2.0276 resistance level in the past 24 hours. Therefore, the memecoin is now approaching the nearest support at $1.1591. If the memecoin breaks below this technical safety net, a drop to $0.3671 is possible in the short term.
In more bullish scenarios, a sustained move above the $1.1591 support level in the next 12 hours could lead to a rebound in the cryptocurrency’s price. Traders could enter long positions on TRUMP, which could subsequently challenge the aforementioned $2.0276 resistance level again. A break above this level could lead TRUMP to $3.0495.
Maga price may continue to fall as it loses technical support
From a technical perspective, indicators on TRUMP’s 4-hour chart warn that the meme coin’s price could continue to fall in the coming sessions. Both the relative strength index (RSI) and the moving average convergence divergence (MACD) indicators are showing bearish signals.
The RSI reading has fallen from 49 to 39 over the past 24 hours, indicating weakening buyer power. Additionally, the current reading is below the 50 base line, suggesting that sellers have the upper hand on TRUMP’s 4-hour chart, which could cause MAGA prices to continue to fall if they choose to use their advantage.
Meanwhile, the MACD is about to trigger a major bearish technical signal. Recently, the MACD line has begun to converge towards the MACD signal line. If this gap continues to narrow, it could lead to a bearish crossover between the two indicators.
Traders often interpret the MACD line crossing below the MACD signal line as a sign that a cryptocurrency is entering a bearish cycle. Therefore, the MACD line crossing below the MACD signal line may cause traders to panic sell in order to reduce potential downside risk.
With TRUMP at greater risk of falling in the next 24 hours, investors are turning their attention to a new political meme coin called “Freedom Fighter” (DUM), which the 99Bitcoins YouTube channel with over 706K subscribers says could skyrocket 100x after its launch.
In Round 2 of Political Clash, Taking the Trump-Harris Rivalry to the Chain
Freedom Fighters (DUM) aims to provide investors with a lighthearted view of the U.S. election. Although the much-anticipated event has concluded with the crypto-friendly Trump victory, the political conflict continues to simmer on-chain.
Freedom Fighters not only gives Kamala Harris supporters a second chance to win, but also offers investors high staking rewards. The project is unique in that it provides two staking opportunities for early buyers, while traditional ICOs only provide one staking annualized rate of return.
The annualized rate of return that investors will unlock depends on the fictional political characters of the projects they support. In the ultimate on-chain battle, one side is Magatron representing Trump, and the other side is Karmakop representing Harris.
To start earning passiv rewards, investors simply stake DUM tokens in the staking pool of their chosen role. Magatron offers supporters up to 266.97% in annual rewards. On the other hand, Kamakop offers its supporters a higher staking annualized yield of 657.77%.
Freedom Fighters has raised over $486K through its ongoing ICO, which shows that investor confidence in the future of the project is very strong at this early stage.
Anyone willing to participate before the project launches can purchase DUM through a purchase widget embedded on the project website.
DUM, which is currently selling for $0.000075, can be purchased using ETH, BNB, BASE, SOL, USDT, or USDC.
After purchase, investors can stake their tokens in Magatron or Karmakope’s pool to receive the high staking rewards offered by each role.
Buy DUM in less than 7 hours to get the best deals. Buy DUM.
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