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The MAGA price plunged 5% in the last 24 hours to trade at $1.32 as of 11:24 p.m. EST on trading volume that plummeted 18% to $6.2 million.
MAGA Price On A Bearish Trend
According to the TRUMP/USD chart analysis on GeckoTerminal , the MAGA price on the daily timeframe indicates a bearish trend.
Prices are currently below both the 50-day and 200-day Simple Moving Averages (SMAs), with a descending channel pattern that suggests continued downward pressure.
This is generally a bearish signal, although descending patterns can sometimes signal a potential reversal if broken to the upside.
The Relative Strength Index (RSI) is at 32.67, which is close to the oversold level of 30. An RSI below 30 is considered oversold and could indicate that the asset is due for a short-term bounce.
However, at this level (just above oversold), it suggests that there may still be selling pressure, but the asset could be nearing a point where it’s attractive to buyers seeking a potential reversal.
If this momentum continues, the price of MAGA could plunge further down, with $1.0 acting as the immediate possible support zone.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.