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- 1 MINA price surged 12% in the current session and seems to be preparing for a massive breakout.
- 2 Mina price took support near the 50-day EMA and showed a minor bounce.
- 3 The EMAs of this crypto displayed a golden crossover.
MINA price surged 12% in the current session and formed a giant bullish candle. It seems like buyers are highly active and getting ready for the massive breakout.
Mina coin price is forming a bullish pattern and racing upward to achieve the $1.00 mark. If the momentum continues and buyers succeed in achieving the $1.00 level, it might trigger the next phase of the rally. New investors may also participate and fuel the rally.
Recently, Mina crypto price took support near the 50-day EMA and showed a decent bounce. It indicates the presence of bulls at the lower levels, which substantially decreases the downside risk.
In the last two months, MINA price attempted thrice to break out of the $1.00 mark. Attempts failed due to the presence of sellers and the price reverted downward.
However, the price did not collapse much and began to consolidate in the range between $0.7000 to $0.9000 level. This consolidation can be treated as a base formation, which will now act as a demand zone.
Will MINA Price Show a Range Expansion?
MINA price is inside the bulls’ grip and trading at $0.8686 with an increase of 12%. In the last 24 hours, the buying volume has surged by 172% and the volume to market cap stands at 13.79%.
It shows that the recent up move is supported by a high volume and it indicates the participation of big players. Moreover, it also increases the possibility of sustaining the higher levels.
On a daily time frame, the Mina coin price seems to be stuck in a range. So, the sudden rise in its price boosted the momentum and increased the probability of upward range expansion.
When Mina Crypto Price Will Pick Up Momentum?
Mina crypto price is turning bullish on a multiple time frame chart. The bulls are dominating and the confidence of the existing investors is visible. The price will pick up momentum after it breaks out of the $.900 hurdle.
Meanwhile, the crypto leaders Ethereum and Bitcoin prices are recovering from the support. So, it improves the market sentiment and positively impacts the price of Mina and other altcoins.
Conclusion
MINA price prediction suggests a sharp rise might be visible in the short run. Buyers are very aggressive and a massive breakout may occur soon. The analysis suggests that the Mina coin price is inside the bulls’ grip and likely to participate in the upcoming bull run.
Technical levels
- Resistance levels: $0.9634 and $1.1000
- Support levels: $0.5808 and $0.4601
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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.