The MAGA price dropped 4% in the last 24 hours to trade at $3.71 as of 00:21 a.m. EST on trading volume that plunged 15% to $9.6 million.
This comes as Donald Trump took to his social media platforms to remind voters of his campaign promises on crypto. In a Truth Social post on October 31, Trump called on his roughly 8 million followers to vote for him in the 2024 election, claiming he would have all Bitcoin “made in the USA” if elected.
MAGA Price Currently Bearish – Could TRUMP Recover?
The current MAGA price action is sideways with a slightly bearish tilt due to the recent downward price movement from the high around mid-October.
After a strong uptrend in the earlier part of October, prices seem to have encountered resistance around $5.5 and are now consolidating in a descending channel, which often indicates a temporary corrective phase in an overall trend, according to data from GeckoTerminal.
The continued downtrend has resulted in the price of MAGA trading below both the 50-day and 200-day Simple Moving Averages (SMAs), confirming the bearish stance.
The Relative Strength Index (RSI) is at 46.76, which is below the midpoint (50). This indicates that momentum is somewhat weak but not yet in oversold territory, which is generally considered below 30. The RSI suggests a neutral to slightly bearish sentiment in the short term. If RSI starts trending upwards and crosses 50, it could indicate a potential reversal or bullish momentum.
If the bears sustain the current trend, the price of MAGA could plunge further to the $3.0 support level.
TRUMPUSD Chart Analysis Source: GeckoTerminal.com
However, if the bulls prompt a bullish trend reversal, the TRUMP price could soar back to the $4.75 resistance level.
Meanwhile, investors are piling into a new PolitiFi project called FreeDum Fighters ($DUM), with its presale blasting past $383k in funds raised since its launch a little more than two weeks ago.
According to analyst and YouTuber Jacob Bury, with over 43k subscribers, DUM can potentially surge 10X when it launches.
FreeDum Fighters: The Next Crypto To Explode?
FreeDum Fighters is a political-themed meme coin designed around a futuristic world where users engage with two distinct candidates: MAGATRON, a powerful robotic entity, and ”hunter of injustice” KAMACOP.
When investors buy DUM, they can choose to vote (stake) for one of the candidates. Right now, the passionately patriotic Magatron offers an annual staking yield of 298%, while the trailblazing feminist Kamacop 9000 boasts a stratospheric 908% return.
Ready for this year's elections?
Get involved early by joining the @Freedum_Fighter elections between MAGATRON and Kamacop 🦅
Cast your vote by participating in the $DUM presale and using their stake-to-vote system 🗳️
Be sure to follow this project, you will not regret it.🔥🔥 pic.twitter.com/j452Rht1Lq
— Red (@Redlion35) October 17, 2024
$DUM holders have different ways to back their chosen champion, including at lively debates, and earn substantial rewards in return.
DUM will be available on multiple blockchain platforms, including Ethereum (ETH), Binance Smart Chain (BSC), Base, and Solana (SOL).
You can buy DUM using ETH, BNB, USDT, USDC, or SOL for $0.00006 per token. Buy before a price hike in less than 8 hours for the best deal.
Visit the official FreeDum Fighters website to buy $DUM tokens here.
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