MINA Price Prediction: Is the MINA Crypto Price bottomed out?

• MINA Price Prediction suggests short term pull back is possible. 
• The MINA Price is trying to climb above the 50 day EMA.
• MINA Crypto Price recovered 30% from the recent swing low. 

MINA Price Prediction suggests a rise in the long run and seems to be preparing for the pull back. It recovered 30% approx from the recent swing low and buyers trying to break out of the $0.500 hurdle. 

Mina Price is also trying to climb above the 50 day EMA to reverse the short term trend in the favors of bulls. However, the downward sloping 200 day EMA is placed slightly which will try to reject the prices. 

Mina Price seems to be consolidating in the narrow range between $0.400 to $0.600. If it continues to consolidate for a few more months then it might be an indication of base formation. 

Well, the buyers seem to be getting active and trying their best to expand the range upward. If they succeed then it will boost the confidence of investors. 

In the mid of April, Mina Price faced sharp rejection from $0.874 and began to decline by forming lower lows. It eroded the previous gains and sellers dragged the prices to the yearly lows. 

Luckily, The downfall in the Mina crypto halted near $0.400 and responsive buyers came forward to defend the demand zone. Mina Price is trading at $0.495 with an intraday rise of 3.13%. The 24 hour volume to market cap is 10.93%.

Will MINA Price take U turn from the demand zone?

Mina Price tried multiple times to reverse the trend but got rejected near the EMAs. It indicates that sellers are active near the supply zone. Well, the overall crypto market is bullish which might positively impact the prices of Mina. 

Till Mina Price sustains above the $0.400 the downside risk will remain low. However, if the buyers succeed to break out of the $0.600 then it will trigger positive sentiment and more upward momentum is possible. 

On the other hand if the prices face rejection from $0.600 then it is expected to continue the consolidation. The technical analysis suggests, MINA crypto is in recovery mode and bulls seem to be returning back to track.

MINA crypto Price forming base

MINA crypto Price is forming a base and showing signs of bottom out near the demand zone. The rise in the buying volume is visible and prices are also turning mild bullish. Therefore, recovery is likely to continue for some more time. 

The MACD curve is facing a hurdle near to the zero line. But if prices continue the recovery then MACD might show a positive crossover. The RSI curve at 56 sloping upward denotes the strength of bulls. 

Conclusion

MINA Price Prediction suggests a rise in the long run because the price defends the demand zone and seems bottom out. MINA crypto price is in recovery mode and might display an upward range expansion in coming months. 

Technical levels

Resistance levels: $0.600 and $0.874

Support levels: $0.400 and $0.300

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.