- The Mina Coin Has shown a massive jump of over 84% in a week.
- The Mina Coin has given a breakout of the Descending Triangle Pattern Recently.
- This token’s current market price is $0.687.
The Mina Coin has registered its biggest single-day spike since the listing. It surged more than 100% in an intraday session but ended the day with a rise of over 60% on 24 October 2023. Apart from this, the coin price has surged by over 84% in a week which can boost the confidence of Investors. They can now hold this coin for a longer time with ease.
Soon after the listing, the Mina coin showed some upmove but this upmove didn’t last long and the price started to decline. In November 2021, the coin price reached a high of $6.680. After that, the coin price started its downfall and the coin price has melted down over 89% since then.
In June 2022, the coin price halted the downfall and started the consolidation phase. Along with that, it has shown some bullish strength in between, but the coin has failed to hold the upper levels. At present, the stock is again showing its strength and it will be interesting to watch the behaviour of the price ahead.
An Outlook of the Mina Coin Chart
The MINA Token has recently given a breakout of the Descending Triangle Pattern and shown a massive rally on the upside. Along with that, it has cleared every single seller who was present at different levels. The Coin price has succeeded in crossing the 6-month price action in a single week, which is a very bullish sign. However, it has removed some of its gains from the highs.
The MINA token price has surged from the support level of $0.3489 and cleared out every single small resistance in one attempt. It has faced resistance from the level of $0.9243. Apart from this $1.2503 will act as a resistance to the price and $0.5687 will act as support in the future.
An Overview of the EMAs and Relative Strength Index
The recent price action of the Mina Coin has made it close above the 50-day and 200-day Exponential Moving Average. It is a bullish sign for the investor, as it has regained both EMAs after 6 months. Currently, both the EMAs are present far below the current market price which indicates a strong Bullishness. The Curve of the Relative Strength Index is currently placed at 79.99, which shows that the coin price is overbought. It needs some correction before resuming its uptrend.
Conclusion
The recent action in the coin price has revived some hope for the bulls. It also indicates that the buyers are confident about the future outlook of the coin. However, before the upmove price need to correct it for some time and absorb the liquidity before boosting it up.
Technical Level
- Resistance – $0.9243 and $1.2503
- Support – $0.5687 and $0.3489
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.