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•MINA/USD is currently priced at $0.68 and has decreased by 0.18% over the past day
•The trading volumes have decreased by 26.25% over the past day
•The technical indicators suggest a positive outlook for the near term
Short-Term View: Will Mina Price be able to withstand the barrage from bears?
The Mina price today is $0.682128 USD with a 24-hour trading volume of $11,378,336 USD. Mina is down 0.18% in the last 24 hours. The trading volumes have decreased over the past day whereas the Volume to Market Cap Ratio stands at 0.02486 for the altcoin.
Mina’s price had been on a downtrend over the last few weeks and is trading significantly below its all-time high of $9.91 which it scaled on Jun 01, 2021. However, some signs of improvement have been seen in the altcoin which has led to Mina Price to transact above the 20,50 SMA on the four-hour chart. An influx of buyers in the market would act as the required catalyst to bolster Mina’s price above the $0.75 level with the next hurdle emerging at the $80 resistance level. A rise above this level would invalidate any near-term pessimistic outlook. On the other hand, the support for the altcoin resides at $0.60 in the event of a correction.
Long Term View for Mina Price
The RSI for Mina is currently transacting at 46.29 and is heading towards the halfway mark. The histograms have turned green as a result of a bullish crossover occurring on the daily chart. The bullish sentiment is nascent in its nature as the MACD and signal lines are still transacting in the negative zone. A move above the zero line would signal a shift in momentum.
Conclusion
The overall technical picture for Mina suggests that the asset could record some gains in the near term. The breach of the $0.75 resistance level would prove to be a catalyst for the bulls to stage an uptrend.
Support: $0.65-$0.60
Resistance: $0.75-$0.80
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
