As the US presidential election week continues at full speed, the fierce fight between Donald Trump and Kamala Harris is being followed with great attention in the cryptocurrency market. The election result is expected to have a significant impact on altcoin projects and tokens, especially those supporting Trump. In this context, the expectation that there will be a big rise in some tokens in case of Trump’s victory has come to the fore. Some Trump-supported altcoins in the markets have been on the radar of investors for a long time. According to analyst Elena R., while volatility in these tokens increases with the results of the presidential elections, the announcement of the name of the winning candidate directly affects the price movements in these projects. In particular, Trump-centered tokens such as MAGA, MAGA Coin and Super Trump Coin give important signals in terms of upward or downward trends.
Watch out for these altcoin projects if Donald Trump wins the elections!
MAGA (TRUMP) token, which has recorded a 1000 percent increase in value since the beginning of the year, is one of the most notable among Trump-backed crypto projects, according to Elena R. Despite experiencing a recent 16 percent correction, the altcoin has been among this year’s best-performing assets, reaching 296th place in the rankings with its market cap reaching $131.7 million. Technical analysis gives different signals about the future of the MAGA token. It is thought that if Trump wins the presidency, the MAGA token price may test the $9 level again.
On the other hand, if the election results go against Trump, the MAGA token price may drop to the critical support level of $1.5. MAGA Coin, another Trump-themed cryptocurrency, also attracts attention with a 7% recovery in the last 24 hours. With a daily transaction volume of $31.52 million, the token ranks 516th in terms of market value and is among the favorite assets of this year. Among the technical indicators, the Moving Average Convergence Divergence (MACD) indicator follows a neutral course and the 50-day Exponential Moving Average (EMA) continues to provide support to the price chart. . If MAGA Coin price can stay above the support level at $0.0001844, there could be a breakthrough towards the $0.000350 resistance level for this altcoin. However, if the selling pressure increases, MAGA Coin price is likely to drop to $0.0000112.
Super Trump Coin also attracts attention
According to the analyst, Super Trump Coin (STRUMP), another Trump-backed altcoin, has a positive outlook in the long term, although it has lost 19.74% in value in the short term. Although the token decreased by 35.71% in a week, it has increased by 1,412.5% since its launch, which stands out as an important development that attracts the attention of investors.
In technical analysis, STRUMP token continues to face resistance from the Simple Moving Average (SMA) on the 1-day time frame. This indicates that the selling pressure on the token has increased and investors are more cautious. If the markets start a recovery, STRUMP price could retest the $0.009850 level. On the other hand, if the selling pressure increases, the price is expected to drop to $0.003625.
With the conclusion of the US presidential elections, serious activity is expected in Trump-supported altcoin projects. While investors carefully monitor the prices of these tokens, it is possible that these assets will start to rally, especially with Trump’s victory. On the other hand, it is stated that if the election results are uncertain or Trump loses, there may be sharp corrections in the price of these tokens.
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