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- 1 MINU price persisted in eroding gains and slipped below the key EMA’s mark.
- 2 Technical indicators suggest a possible rebound.
The MINU token price depicts a severe fall and is trading near the 52-week low region around $0.0000001250, directing a downtrend on the charts. Furthermore, the price action signifies a follow-up selloff, and sellers have persisted in extending the down-move. Following the market’s bearish sentiments, the token showed a consistent negative move, eroding over 84% of gains this month.
At press time, the Minu token (MINU) price traded at $0.0000001444 with an intraday drop of 9.09%, reflecting bearishness on the charts. It has a monthly return ratio of -83.20% and 90.24% yearly. The pair of MINU/BTC is at 0.00000000000263 BTC, and the market cap is $16.13 Million. Analysts are bearish and suggest that the Minu token may continue to drag gains and will underperform in the following sessions.
Over the past few trading sessions, the Minu token was in a correction phase and is trading in the bearish region. The mighty bear cartel aggressively made short positions and put pressure on the bulls, resulting in a severe decline. The trend is bearish, and buyers have looked trapped and stayed on the backfoot.
MINU Price Volume Profile Analysis on the Daily Chart
The Minu token price and volume on the daily chart indicate a fresh short addition and a severe correction for the last sessions. Moreover, signs of follow-on selling pressure were witnessed.
Per the Fib retracement levels, the Minu token price has regressed below the 23.6% zone and is trading near the lower Bollinger Band. The RSI curve dragged to the oversold region and showed a negative divergence, suggesting a continuation of the downtrend for the following sessions.
The token’s supply is 100 trillion, and the volume-to-market cap ratio is 0.0773. The fully diluted market cap of the token is $16.14 Million, whereas it stands at 3160 per the market cap in the global crypto market.
Summary
The Minu token price dragged below the crucial support zone of $0.0000001300 and is trading in the bearish region. Moreover, the trend is negative; sellers have persisted in adding short positions and are eyeing to break the $0.0000001200 mark ahead.
Technical Levels
Support Levels: $0.0000001200 and $0.0000001150
Resistance Levels: $0.0000001350 and $0.0000001500
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.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
