MAGA token-meme exchange rate collapsed before Donald Trump's speech

Trump spoke out in favor of cryptocurrencies, hinted at the inclusion of bitcoin in the list of reserve assets of the United States, bet on a significant increase in the price of BTC and even promised to fire the head of the Securities and Exchange Commission Gary Gensler, who many reproach for his bias towards the digital asset industry.

However, an hour before Donald began voicing his pro-cryptocurrency stance, the value of MAGA began to dump, it fell sharply and continued to decline during Trump's conference speech, down 16%. The cryptocurrency's price then corrected by 4%, but crept down again in the morning Moscow time. The bearish trend is explained by the mass sale of tokens for unknown reasons. It is likely that the whales decided to play against the expectations of other market participants and got rid of coins.

After reaching the peak at $11.51, the value of MAGA fell heavily and began to fluctuate within the descending channel formed by lower tops and bottoms. As such, we can assume that MAGA will fall in price to $5.2-5.3, push away from this support zone and rise to resistance at $7.