The Kamala Horris price soared 50% in the past 24 hours to trade for $0.1460 as of 08:10 a.m. EST.
The surge in the KAMA price came despite carnage in the PolitiFi token space as speculation that President Joe Biden may not secure the Democratic Party nomination in August weighs heavily on political meme coins.
The sector’s market capitalization nosedived more than 20% to $765 million, according to CoinGecko.
The surge in the KAMA price came amid reports that Kamala Harris is ahead of Biden in prediction markets for Democratic nominee.
Kamala Harris has officially overtaken Biden in prediction markets for Democratic nominee.
But her memecoin $KAMA still needs another 100% gain to flip $BODEN market cap.
This is either the dumbest trade or the easiest 2x in crypto.
Or both. pic.twitter.com/Eu6bjhJ0YK
— Luke Martin (@VentureCoinist) July 3, 2024
According to Polymarket odds, Kamala Harris is now the favorite to win the Democratic Nomination.
Kamala Harris is now the favorite to win the Democratic Nomination. pic.twitter.com/zvdh8VS7RT
— Polymarket (@Polymarket) July 3, 2024
Kamala Horris Price Prediction
The Kamala Horris price is trading with a bullish bias, scaling a recovery rally on the 15-minute timeframe. However, it remains in the thicket, trading below the foothold of the 61.8% Fibonacci retracement level of $0.1488.
Looking at the technical indicators, the bulls are putting up a fight but the bears continue to hold fort. To start with, the Relative Strength Index (RSI) is borderline subdued, holding just below the mean level of 50. In the same way, the Moving Average Convergence Divergence (MACD) is in negative territory, portraying a bearish picture in the KAMA market.
Unless the bulls increase their buying momentum, the Kamala Horris price could slide lower to test the 78.6% Fibonacci retracement level of $0.1420. In a dire case, a leg lower could see the PolitiFi token test the bottom of the market range at $0.1333.
GeckoTerminal: KAMA/USD 15-min chart
However, if bullish momentum increases, the Kamala Horris price could push north into the Fibonacci Golden Zone. A stable candlestick close above the 50% Fibonacci placeholder of $0.1536 on the 15-minute timeframe would be a good sign. Nevertheless, the more ideal entry for traders looking to long KAMA would be above the 38.2% Fibonacci retracement level of $0.1584.
A stable flip of the aforementioned resistance into a support floor would vindicate KAMA from bearish hands. This could set the pace for a further north. In a highly bullish case, the Kamala Horris price could shatter past the 23.6% Fibonacci retracement level of $0.1643, paving the way for a continuation of the uptrend.
Notably, despite the bearishness on the technical indicators, the MACD teases with a pending buy signal. This will be executed if the MACD manages to flip above the signal line, and confirmed by teh RSI moving above the 50 threshold.
As KAMA soars, Mega Dice (DICE) has just blasted past the $1.5 million mark in its presale.
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Promising Alternative To Kamala Horris
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Also Read:
Mega Dice Price Prediction – DICE Price Potential in 2024
How to Buy Mega Dice Token – $DICE Presale Review
Mega Dice Referral Code & Bonus Codes 2024
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