- MAGA price has declined by 40% in the past 5 days.
- TRUMP’s price has dropped below the significant support level of $4.
On a broader time frame, the MAGA (TRUMP) price has been on a bearish trend since June. It has witnessed an immense loss of 82% till the last week of October.
The TRUMP crypto price bounced back from the $2 level during the bearish trend. It gained around 190% in less than a month. However, momentum was shifted to the sellers’ hand near the 200-day EMA and they lost around 40% in 5 days.
Amid this bearish trend, the TRUMP price has started trading below the major support level of $4. This could be a bearish sign. Let’s explore its forecast.
Technical Analysis of TRUMP Price Over 1-D Timeframe
MAGA (TRUMP) price was trading at $3.12 at press time. Over the past 24 hours, it dropped by 8.40%. The market capitalization was $137.63 Million, and the 24-hour trading volume was $10.20 Million.
The TRUMP price has shown strong price rejection from the 20-day EMA and sustained below. Here, sellers seem stronger and may drag the price to another support level of $2. Once the price loses this level, complete domination of sellers can be anticipated.
In contrast, buyers might be gathered assuming the TRUMP coin price rebounds and exceeds the $4 mark. If the MAGA (TRUMP) price surpasses the 200-day EMA, then recent losses could be covered in the next few weeks.
Turning to the technical indicators, the MACD has displayed a strong death crossover with the Signal line. The histograms have flipped to red, which could invite more sellers. The RSI has triggered a bearish crossover with the RSI-based moving average and has rapidly dropped to 42 from 71.
Can TRUMP Price Gain 100% Ahead of U.S. Election?
Crypto analyst @impulsivedom has shared his analysis of MAGA on X. He claimed that the MAGA Trump memecoin could gain 100% before the U.S. election.
Strong buying can be seen once the TRUMP price manages to sustain over the $5.80 mark. Buyers might be able to lift the price over the $7- $8.6 mark before the election. Trump’s victory would witness massive momentum in the MAGA coin price.
If the price defends September’s low, big players might remain in the game. Defending this zone could open the door for the $30 and $40 territory in the future.
Trump Coin Price Analysis and Forecast
Based on the technical analysis of the TRUMP price over a 1-day timeframe, the cryptocurrency appears to be facing a bearish trend. The MAGA (TRUMP) price has dropped below the major support level of $4. This indicated a potential bearish sign.
The MACD has displayed a strong death crossover with the Signal line. Also, the RSI has triggered a bearish crossover, indicating a bearish sentiment in the market.
If the price continues to decline and loses the support level of $2, it could signify complete domination by sellers. On the other hand, if the price manages to rebound and exceed the $4 mark, it might attract buyers.
Additionally, surpassing the 200-day EMA could help recover recent losses in the next few weeks.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
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