The MAGA price slumped 23% in the last 24 hours to trade at $2.646 as of 11:05 p.m. EST on trading volume that surged 53% to $15.3 million, according to data from CoinGecko .
This comes as opinion polls show the US presidential election is an an extremely close race between Vice President Kamala Harris and Donald Trump.
Harris has a one-point advantage, 48% to 47%, over her Republican opponent in one of the latest polls, but such a lead barely even covers the margin for polling error.
MAGA Price Gearing Up Towards A Bullish Trend Reversal
From the end of September to mid-October, the MAGA price went through a surge from the $1.69 support to the $5.44 resistance (dotted line), as shown by the TRUMP/USDT chart analysis on the 6-hour timeframe.
The resistance level then allowed the bears to take control of the price. This made TRUMP price to plunge through a falling channel pattern, as shown by a green rotated rectangle.
As a result of the downward trend, the price of MAGA now trades below both the 50-day and 200-day Simple Moving Averages (SMAs). The SMAs now act as the immediate resistance levels at $3.65 and $3.365, respectively.
The Relative Strength Index (RSI) is now below the 30-oversold level, a signal that the asset is under intense selling pressure. However, the RSI being below 30 is also an indication that the asset is now undervalued, which may act as a buying signal for investors.
If the current bearish trend continues, the price of MAGA could fall back to the $2.313 support zone.
MAGA/USDT Chart Analysis (Source: Tradingview)
However, the undervalued RSI could push the bulls to buy more, which could prompt a bullish trend reversal to the $5.44 resistance.
Meanwhile, investors seeking other opportunities in the PolitiFi segment of the crypto market might take a look at FreeDum Fighters ($DUM) , a new project that has blasted past $410k in funds raised in presale.
According to analyst and YouTuber Jacob Bury, with over 43k subscribers, DUM has the potential to surge 10X when it launches.
A Promising Alternative To MAGA
FreeDum Fighters is a novel meme coin project that is capitalizing on hype around the US election. The project features a satirical approach to the current political ecosystem, with its own blockchain candidates inspired by Trump and Harris.
The project sets the stage for the ultimate showdown between MAGATRON and Kamacop 9000. MAGATRON, whose name is derived from the “Make America Great Again” acronym, is inspired by Donald Trump. Kamacop 9000, or simply Kamacop, is described as an advocate for social justice.
When investors buy DUM, they are asked to vote (stake) for either the passionately patriotic Magatron or the trailblazing feminist Kamacop
Those who vote (stake) for MAGATRON are offered an annual staking yield of 288%, while those who vote (stake) for the trailblazing feminist Kamacop 9000 are offered a stratospheric 813% return.
The staking rewards show that DUM investors favor Trump by 68% to only 32% for Harris.
During the $DUM presale, token holders can also participate in lively community debates, crafting persuasive arguments for their chosen candidate.
If a 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.
Visit the official FreeDum Fighters website to buy $DUM tokens here using ETH, BNB, USDT, USDC, or SOL for $0.000065 each. Buy before a price hike in a little more than two days for the best deal.
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