After Democrats won control of both the House and Senate in the US midterm elections, the TRUMP memecoin fell 17.37% in 24 hours and briefly reached a new all-time low of $1.22. The decline occurred despite a slight rise in the broader crypto market, reflecting growing uncertainty about Donald Trump’s crypto-friendly policies and scrutiny of his family’s crypto activities. Other political memecoins also faced selling pressure. On the four-hour chart, an RSI of 20 and a sharp decline in the OBV indicate strong short-term bearish momentum, while holding above $1.22 and reclaiming $1.30 could provide relief from further pressure.
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