Higher High Structure Formation in the MINA Crypto Charts

• In the last 14 days, MINA crypto has given astonishing returns of 111% to its investors.
• Mina Protocol crypto has lost its price value by 83.90% since its all-time high.

Mina Protocol is a blockchain protocol that uses zk-SNARKs to create a small and private blockchain for dApps and cryptocurrencies. MINA tokens power the network and enable governance, fees, and staking. It was created by O(1) Labs in 2021.

The current circulating supply of the Mina Protocol crypto is 1.027B MINA and the total supply of the crypto is 1.11B MINA. Moreover, the maximum supply of the crypto is infinite.

The market cap of the Mina has advanced by 3.065 in just 24 hours resulting in $1.516B and the fully diluted market cap of the crypto is $1.637B. Despite the advance in the market cap, the trading volume of MINA has declined by 36%, resulting in a value of $131.451M. 

The traded volume ranking of the crypto is 55th followed by the market cap ranking of 57th as per CoinMarketCap. Also, the volume/market cap ratio of the crypto is 7.8% and the market cap dominance of the MINA is 0.086%.

Mina Protocol Derivatives Analysis

With a decline of 47% in the derivatives trading volume of Mina Protocol crypto, the open interest of the crypto has also declined by 1.19% in the last 24 hours. Also, the long/short ratio of the crypto is 0.944. Moreover, the long liquidation of the MINA is worth $366.49K against the short liquidation of $184.37K.

MINA Crypto Technical Analysis

The MINA crypto price has witnessed a huge surge in its trading price and has broken above the crucial change of character leading to a strong uptrend. The trading price of the crypto is also forming bullish candles and the trading price is consistently advancing.

MINA/USD Chart by TradingView

The MINA crypto price is trading above the 50-day and the 200-day EMA and the price is consistently advancing to higher levels leading to a strong bullish trend.

The following behavior of the price and the indicator shows the dominance of buyers in the crypto market.

The RSI is also trading above the overbought zones following a bullish cycle on the daily charts. The value of the RSI is also higher than the 14-day SMA and the RSI is trading at the level of 72.92.

Conclusion 

MINA crypto has shown a remarkable performance in the past two weeks, gaining more than 100% in value. The technical analysis indicates a strong bullish trend, supported by a high market cap, positive indicators, and bullish candles. MINA token has the potential to reach new highs soon.

Technical Levels

Support Levels: $0.350 and $0.720

Resistance levels:$2.280 and $2.980

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.