- The MINA coin bears have reclaimed the 20-day EMA line
- The MINA/BTC pair was trading at 0.000009734 BTC with a loss of 1.34%
- the 24hr trading volume in the MINA coin is $75.09 Million
The bull rally of the MINA coin entered a minor retracement phase after the coin reached a new ATH of $16.5 mark on 15th September. These short pullbacks can be crucial for trending coins to maintain a long bull run. However, the price already dropped to 40% and is about to plunge to the crucial support of $3.73.
The RSI value is at 44, indicating a bearish emotion in the coin. Moreover, the RSI line has shown a significant drop concerning the coin’s price action, suggesting the bears are taking charge now.
The MINA Coin Chart In The 4hr Time Frame
The MINA coin shows a steady fall in this lower time frame, providing multiple short opportunities for the coin traders. As said above, the coin could drop back to the $3.7 support, which is a crucial level for the MINA coin. The coin price has a good chance of reacting to it, providing a significant signal for a trade.
The EMA’s indicate a bearish outlook for the MINA coin, as its price is trading below the crucial EMA’s (20, 50, 100, and 200). Moreover, the chart also shows a bearish crossover of the 20 and 200 EMA, attracting even more sellers in this coin.
The moving average convergence/divergence indicator (BEARISH) shows the signal and MACD lines are moving below the neutral area (0.00), indicating the bearish sentiment in the coin. The indicator also provides a bearish crossover, projecting a sell signal for the Crypto traders.
Conclusion: From the technical perspective, the overall trend of the MINA coin remains bullish, and as its price is dropping to the strong support, the coin buyers have one more chance to hope for a price reversal. Thus, these traders must see how the price reacts at this level before taking an entry.
Support: $3.7
Resistance: $4.5