MAGA Price Prediction: TRUMP Plunges 17% As Investors Pivot To This Political Meme Coin Rival Offering A 1,847% Staking APY
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.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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