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- 1 The Mina crypto witnesses the formation of a double top pattern near the highs.
- 2 Mina crypto currently trades at $1.417, recording a negative development of 1.35% in Intraday.
Mina price continued to roll down on the second consecutive day after reversing ist course near the previous high. At the time of writing, the crypto was at $1.417 reporting an intraday loss of 1.35%.
Earlier, the crypto took rebound from the 50-Day EMA and extended its move towards the recent swing high. However, the crypto failed to surpass the recent high and lost momentum near the highs, thus forming a double-top pattern.
The crypto has more downside room till the 20-Day EMA which may act as a dynamic support and try to halt the fall. Furthermore, if the momentum continues then the crypto may slide the previous swing low and the 50-Day EMA.
Moreover, the trend outlook is positive in the short term as well as long long term. The recent selloff might turn out to be a pullback and the crypto may continue to rise after the completion of pullback.
The short-term outlook may turn bearish if the price breaks below the $1.14 level and breakdown of the 50-Day EMA. however, until the crypto is maintained above the 50-Day EMA, the buyers might look for buying opportunities at a discounted price.
Mina Crypto Volume Analysis
The volume analysis shows that MINA crypto received $101 Million in volume in the past 24 hours with a drop of 19.59% as compared to the previous day. Live market capitalization of the crypto is $1.477 Billion and it ranks 54th. The volume to market capitalization ratio is 7.20% indicating mild volatility in the market.
Mina Crypto Technical Analysis
From a technical perspective, the Mina cryptocurrency trades comfortably above the key EMAs of 20, 50 and 200-Day EMAs indicating bullishness in the overall trend. The EMAs may act as a dynamic support and could halt further decline. The MACD line and signal line are showing a bullish crossover suggesting a positive outlook in the short term.
Mina Price Prediction for February 2024
The positive view of analysts predicts an upside potential of nearly 13.01% by February end, which could take the Mina price near the $1.574 level. On the other hand, the bearish view of analysts hopes for the breakdown below 50-Day EMA after which the price could test lower levels of $1.14 and $1.
Mina Price Prediction for 2024
The price prediction for 2024 shows that the Mina may advance to a high of $2.40 by the end of 2024 if the positive conditions prevail. On the other side, The less optimistic analysts estimate a price target of $1.951 by the end of the year.
Mina Price Prediction for 2025
As per the most positive view of our analysts, the price may hit the $3.740 mark, suggesting an upside potential of 166.84% by 2025. The pessimistic view of the analyst is that the price could reach $2.556 by the end of the financial year 2025.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
