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.
