Why are PolitiFi coins declining?

Leading political finance coin (PolitiFi) has bucked the broader market trend and experienced price declines over the past 24 hours. ConstitutionDAO (PEOPLE) and Maga (MAGA) values ​​fell despite general market stability.

These moves come as US Election Day, scheduled for November 5th, approaches, making the development of these politically linked tokens more uncertain.

ConstitutionDAO is losing momentum

PEOPLE is currently trading at $0.08, down 2% in the last 24 hours. During this period, trading volume increased by 17%. A price drop accompanied by increasing trading volume suggests that many traders are selling the asset, creating downward pressure.

PEOPLE’s negative Chaikin money flow supports this bearish bias. As of this writing it is at -0.01 and is in a downtrend.

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When both price and CMF decline, bearish sentiment strengthens. The falling price shows weakness and the negative CMF confirms that traders are not accumulating the asset, further strengthening the bearish momentum.

If the downtrend continues, PEOPLE price could fall by 26% and reach $0.06. If the bulls fail to defend this support level, there could be a further decline to $0.05.

Demand for MAGA is weakening

MAGA is another leading PolitiFi coin that has seen a decline in value over the last 24 hours. The meme coin is currently trading at $0.00014, down 10% in price over the period. Its technical setup, assessed on a 12-hour chart, confirms declining accumulation.

For example, the Moving Average Convergence/Divergence (MACD) indicator readings show the MACD line (blue) below the signal line (orange). This indicator tracks the dynamics of a trend. At this setting, it signals weakening momentum and indicates a downward trend in price.

Additionally, MAGA’s Elder Ray Index has fallen below zero and is at -0.000027. This indicator assesses the strength of buyers and sellers, with a negative value signaling that sellers are currently stronger, reflecting bearish market sentiment. If this trend continues, the price of MAGA could fall by 57% and potentially reach $0.000061.

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However, if demand for the altcoin increases again, the price of MAGA could recover and rise towards $0.0031, invalidating the bearish forecast.