The post Trump-based Altcoins To Surge Post Election Or Is The Party Over For Political Memes? appeared first on Coinpedia Fintech News
With only 13 days remaining for the U.S. Presidential elections, the Political meme category has recorded a significant increase in the buying and selling pressure. Moreover, the uncertainty is heading toward a new high as investors are paying more attention to the election.
Considering the current market sentiments, is this a crucial time to hold, buy, or sell these memecoins as they have an uncertain future post-election? In this article, we have covered the short-term price analysis of the top 3 PolitiFi memecoins!
ConstitutionDAO (PEOPLE)
Amid increased price volatility, the ConstitutionDAO price has recorded a correction of ~5% over the past week. Notably, this memecoin has surged 528.16% this year and has secured the 143rd position with a market cap of $406.52 million.
The technical indicators EMA 50/200-day and RSI have both recorded a neutral price action, suggesting weak buying-and-selling pressure for this meme coin in the market.
If the bulls regain momentum, the PEOPLE price will retest its important resistance level of $0.090. Conversely, a bearish action could pull the price toward its support level of $0.06275.
MAGA (TRUMP)
With a drop of 30.86% over the past month, the MAGA price has failed to breach its important resistance level of $6. Following this, it has fallen significantly since this week started. Notably, this is one of the best-performing meme coins in the PolitiFi category.
The Moving Average Convergence Divergence (MACD) has displayed a constant rise in the red histogram with its averages recording a bearish convergence. This highlights an increase in the selling pressure for the Trump token in the market.
Suppose a bullish reversal occurs, in that case, the TRUMP price could retest its upper resistance level of $6 this month. On the flip side, if the bears gain dominance, this could result in it plunging toward its crucial low of $1.50.
MAGA (MAGA)
The MAGA coin price has recorded a correction of 2.96% in the past 24 hours with a trading volume of $11.992 million. Moreover, it has dropped 7.03% over the past week, indicating an increase in the bearish sentiment.
The Relative Strength Index (RSI) has recorded a sharp drop toward its neutral point in the 1D time frame. Moreover, with its average trendline displaying a bearish curve, the MAGA token hints at an uncertain price movement.
Pushing the price above its resistance trendline of $0.0001844 will set the stage for the MAGA price to head toward its upper high of $0.000350 during the upcoming time. On the contrary, if the bears outrun the bulls, this meme coin will retest its low of $0.0000112.
