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- 1 TRUMP’s (MAGA) crypto price has decreased by 54% from its all-time high price.
- 2 MAGA crypto price is going down under bearish influence.
Maga Coin is a decentralized cryptocurrency designed to have minimal impact on the environment. It operates independently, with its value remaining stable against market volatility and unaffected by social media. Created with a community-centric approach, it’s intended to serve the public interest. It presents an opportunity for investors to diversify their portfolios and potentially realize significant returns.
MAGA is dedicated to advancing the Universal Financial Access initiative, which seeks to provide essential banking services to nearly half of the global adult population currently without them.
Price Volatility Vs Weighted Sentiment For MAGA Crypto
According to Satiment data, the average daily volatility of the crypto is 0.052 while the weighted sentiment of the crypto has highly declined in recent times showing a negative outlook. This shows a lack of social engagement in the MAGA coin.
Technical Analysis of The MAGA Crypto
MAGA cryptocurrency has experienced significant fluctuations recently, with a 28.47% change. Its market cap dominance is minimal at 0.01%, and the market cap itself has decreased by 13.9% last session, totaling $219.366 Million. The crypto’s rank is #298 on CoinMarketCap.
Trading volume has also dropped by 36.5% in the past day, leading to a traded value of $3.874 Million. The low volume-to-market cap ratio of 1.82% suggests limited liquidity.
The circulating supply is 42.055 Million TRUMP, with a total supply of 46.502 Million TRUMP. The maximum supply hasn’t been disclosed, but the fully diluted market cap stands at $243.2 Million.
MAGA’s all-time high was $6.14 on March 4, 2024, and it has since decreased by 54.7%. The all-time low was $0.007792 on August 22, 2023, with a subsequent increase of 67000%.
Market sentiment is bullish according to Coincodex, and the fear and greed index shows investor greed. The Onchain market cap is $245.81 Million. TRUMP coin’s price is following an expanding wedge pattern on the daily chart, currently supported by the pattern’s lower boundary.
Price rejections at higher levels suggest buying interest at current prices, potentially leading to an uptick. However, the 20 and 50-Day EMAs indicate a bearish trend, and the price has recently fallen below the 200-Day EMA on the 4-hour chart. A bullish crossover between the 20 and 50-Day EMAs could signal a price increase.
The MACD and signal lines are below zero on the 4-hour timeframe, but a bullish crossover has occurred. If they rise above zero, the price may surge. The RSI’s volatility reflects the price’s instability and uncertain momentum.
Summary
MAGA cryptocurrency, known as TRUMP, is navigating a challenging market with fluctuating sentiment and scarce liquidity. While technical patterns hint at possible gains, the high volatility and mixed technical indicators leave its future price direction ambiguous.
Technical Levels:
Support Levels: $2.560 and $3.8000
Resistance Levels: $8.00 and $10.000
Disclaimer
This article is for informational purposes only and does not provide any 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 own research before making any financial decisions
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
