PolitiFi Coins PEOPLE and MAGA Face Declines

The leading PolitiFi coins, ConstitutionDAO (PEOPLE) and MAGA, are showing signs of weakness despite the broader market maintaining stability. Both coins have experienced a price decline in the past 24 hours, defying general market trends as political uncertainty looms ahead of the U.S. elections on November 5.

ConstitutionDAO’s token, PEOPLE, has dropped while trading volume increased by 17%, suggesting a significant number of traders are selling the asset. This rising volume alongside a price decline typically indicates downward pressure on the coin. The Chaikin Money Flow (CMF) for PEOPLE shows a negative trend, reinforcing the bearish sentiment. This means that traders are not accumulating the asset, further amplifying the downward momentum. If the trend continues, PEOPLE’s price could drop significantly unless buying demand increases.

Meanwhile, MAGA, another prominent PolitiFi coin, has suffered a 10% decline in value over the past day. Technical indicators like the Moving Average Convergence Divergence (MACD) and Elder-Ray Index confirm weakening momentum. The MACD line being below the signal line indicates that the downward trend could continue. Additionally, the negative reading on the Elder-Ray Index points to sellers having more strength than buyers at the moment. If this trend remains, MAGA could face a more severe drop unless it experiences a significant rebound in demand.

The performance of these coins is under close watch as political factors, such as the upcoming U.S. elections, add uncertainty to their future. While both PEOPLE and MAGA show bearish signals, a resurgence in investor interest could potentially reverse the trend and stabilize their prices. However, for now, both tokens face the risk of further declines unless market conditions change in their favor.