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MAGA (TRUMP) cryptocurrency is in the spotlight of investors after analyst Manish Chhetri provided detailed technical analysis that suggests a potential significant upward move.

According to Chhetri, MAGA price has found resistance at the daily level of $6,576, and keen buyers may find attractive opportunities by accumulating TRUMP tokens at the weekly support of $4,579, ahead of a possible rally in the coming days.

The MAGA memecoin faced resistance near the $6,576 level, resulting in a 19.21% decline on Sunday. However, on Monday, the cryptocurrency recovered 0.43% to trade at $5,356.

Chhetri notes that if TRUMP price holds support near the weekly level of $4,579, there is a possibility of a 22% rally, retesting the daily resistance at $6,576.

SLEEP (TRUMP)

“The Relative Strength Index (RSI) and Awesome Oscillator (AO) on the daily chart are trading below the neutral thresholds of 50 and zero, respectively. For the bulls to sustain the momentum, both indicators must rise above these critical levels, potentially supporting the ongoing recovery rally,” Chhetri explained.

Technical analysis suggests that a TRUMP price close above $6,576 and a break of the descending trendline formed by connecting multiple swing highs from June 1 to June 28 could initiate a fresh 59% rally. This move could lead the price to retest its daily peak of $10,401, recorded on June 27.

Despite the optimism, Chhetri warns about the possibility of a negative scenario. “If TRUMP closes below $4,579, resulting in a lower low on the daily timeframe, it would negate the bullish thesis for MAGA,” the analyst said.

This scenario could trigger a 25% drop, revisiting the March 28 low of $3,367. However, he also warns that if BTC corrects again, losing the $55K support again, any bullish outlook falls apart.

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Source: https://www.criptofacil.com/maga-trump-deve-subir-22-apos-encontrar-suporte-em-torno-de-us-4579-diz-analista/



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