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- 1 The Mina Protocol price decreased by 5.71% over the last week and is trading below major EMAs.
- 2 The price of the MINA coin is trading at $0.362 and the 52-week trading range is between $0.349 – $1.230.
Mina Protocol is offering a ZK Bootcamp, in collaboration with Encode Club which is a free online course on ZKPs that is a cryptographic technique that allows one to prove something without revealing any extra detail or info.
The course will last for five weeks and will teach the theory and practical practices of ZKPs, from basic concepts to advanced topics of concepts such as zk-SNARKs, zk-STARKs, and recursive proofs.
This course will also expose various ZKP frameworks and libraries such as Snarky, Circom, ZoKrates, and StarkWare. This news is as per the details provided by the Mina protocol on the CoinMarketCap website.
The ZK Bootcamp could have a significant impact on Mina crypto’s price, depending on its success. If the course attracts a large number of participants and generates positive feedback, it might raise awareness and interest in Mina Protocol and its technology.
In addition, it could lead to an increase in demand and adoption of Mina crypto, which could trigger a price rally.
On the other hand, if the course fails to attract or satisfy participants, it could have a negative effect on the Mina Protocol’s reputation and credibility. It might result in a loss of confidence and support for Mina crypto. That may cause the price to consolidate or drop to a new low.
Therefore, the ZK Bootcamp is a crucial event for Mina Protocol and its community, as it could determine the future direction of Mina crypto’s price.
Mina protocol (MINA) open interest is $10.55 Million, as per Coinglass, which is a crypto analysis website. It rose by 2.19% in the last session. The long versus short ratio for 24 hours is 0.9365. The total number of short positions added in the last 24 hours is zero against longs of $275.84.
MINA crypto surged by 1.12% in market value and by 98.73% in trading volume in the last 24 hours, as per Coinmarketcap, which is a crypto data and info website. Its market value is $355,912,380 and its trading volume is $10,183,975. There are 983,833,617 MINA coins in circulation.
MINA Coin Price Technical Analysis in the 1-Day Timeframe
MINA coin has been struggling to maintain its value this month, as it experienced a 2.43% drop in its price. It is part of a larger downtrend that has seen the MINA coin lose more than half of its value in the past six months, with a 54.93% decline.
Furthermore, the year-to-date performance of the MINA coin is also disappointing, as it shows a negative return of 16.82%. These figures indicate that the MINA coin is facing significant challenges in the competitive crypto market.
Since its launch in April 2022, MINA crypto price action has been on a downward spiral on the charts, failing to sustain its initial momentum. It briefly rose from $0.4 to $1.2, but could not break through the resistance level and fell back.
For the last three months, it has been trading in a narrow range, showing no signs of recovery. The overall trend is bearish for MINA crypto.
Therefore, the MINA price might keep going down and find new support levels at $0.349 and $0.300 if it cannot hold the current level.
On the other hand, if the MINA price stays at the current level and breaks above the previous high, it might reach and surpass the previous resistance levels of $0.407 and $0.488.
At the time of publishing, Mina Protocol (MINA) is trading below the 20 and 50-day EMAs (exponential moving averages).
The MACD line at 0.005 and the signal line at 0.003 are below the zero line both lines cross each other showing a bear crossover in the MACD oscillator, where the histogram width is broadening and showing bearishness.
The current value of the RSI is 41.7 points and the 14-day SMA is above the median line at 47.83 points, showing the curve is taking resistance from 14 SMA.
Conclusion
MINA price highlights the consolidation of bearish sentiments and perspectives of investors and traders regarding the MINA in the daily time frame. The technical parameters of the MINA price suggest the continuation of the bearishness over the daily time frame chart. Moreover, MINA price action highlights a bearish view at the time of publishing.
Technical Levels
- Support levels: $0.349 and $0.300
- Resistance levels: $0.407 and $0.488
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
