Donald Trump officially wins the U.S. Presidential election 2024! Following this, the cryptocurrency market has recorded a significant uptrend in valuation. However, uncertainty looms over the Political meme category as top tokens lose ~50% in valuation today.
With a sharp correction in the Political memes category, is this a crucial time to hold these tokens? In this article, we have covered the market sentiments and possible price analysis of the top 3 Trump-based tokens.
MAGA (TRUMP)
The Trump token has recorded a correction of 31.24% in the past 24 hours with a trading volume of $55.95 million. Moreover, it has plunged 37.29% over the past week and 42.86% during the past 30 days, highlighting long-term bearish sentiment.
The Moving Average Convergence Divergence (MACD) has displayed a constant red histogram with its averages showing a steady decline. Moreover, its SMA indicator records a negative crossover. This highlights increased selling pressure for the Trump-themed altcoin.
Suppose, this category regains momentum, in that case, the Trump price will retest its resistance level of $3.75. However, an increase in the bearish action could pull the price toward its crucial support level of $1.50.
MAGA (MAGA)
The MAGA coin price has recorded a major hit by losing ~50% of its value within the past few hours. With a 24-hour trading volume of $88.38 million, this project is currently valued at $42.441 million.
The Relative Strength Index (RSI) shows a sharp downtrend toward the oversold range with its average trendline constantly acting as a resistance to the MAGA price chart. This suggests a negative outlook for the altcoin in the coming time.
If the bears continue dominating the market, the MAGA coin price may retest its low of $0.000011250. On the other hand, if a trend reversal occurs, this altcoin may retest its upper high of $0.000185.
Super Trump Coin (STRUMP)
With a drop of ~21% within the past 60 minutes, the STRUMP price has plunged 48.64% in the past 24 hours. Further, it has lost 55.24% over the past week and 50.73% during the past 30 days.
The Simple Moving Average (SMA) constantly acts as a resistance to the Super Trump coin price chart. Moreover, the MACD indicator has experienced a strong red histogram. This indicates that the altcoin may continue losing value.
If the bulls regain momentum, the STRUMP price may retest its resistance level of $0.0068. On the contrary, an intensified bearish action could result in it retesting its low of $0.000800.
