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Mina Price Analysis: MINA Crypto is Falling Through an Interesting Channel!

Analytics

www.thecoinrepublic.com 04 October 2022 13:03, UTC
  
Reading time: ~2 m

  • Mina price has been falling through a descending parallel channel over the daily price chart.
  • MINA price is trading below 20, 50, 100 and 200-days Daily Moving Average.
  • The pair of MINA/BTC is at 0.00003016 BTC with an intraday drop of 0.41%.

Mina price has been falling through a descending parallel channel over the daily price chart. MINA crypto has dropped below all of the 20, 50, 100 and 200-days Daily Moving Average. MINA bulls must accumulate themselves to register their breakout from the channel. The token must look for support at the lower level to let MINA surge towards the upper price range.

Mina price is presently approximated at $0.593 and has gained 1.44% of its market capitalization in the last 24-hour period. Trading volume has gained 38% in the intraday trading session. This demonstrates that MINA bulls are trying to accumulate themselves to let the token register its breakout. Volume to market cap ratio is 0.02573.

Source: MINA/USD by TradingView

MINA coin price has been falling through a  descending parallel channel over the daily price chart. MINA crypto is still looking for support and looks like bulls are finally trying to reverse the falling momentum of MIAN coin. Volume change can be seen below average and needs to grow for MINA to sustain.

What do Technical Indicators suggest about MINA? 

Source: MINA/USD by TradingView

Technical indicators suggest the uptrend momentum of MINA coin. Relative strength index showcases the uptrend momentum of MINA coin. RSI is at 44 and is heading towards neutrality. MACD exhibits the sideways momentum of the MINA coin. The MACD line is ahead of the signal line after a positive crossover.

Conclusion  

Mina price has been falling through a descending parallel channel over the daily price chart. MINA crypto has dropped below all of the 20, 50, 100 and 200-days Daily Moving Average. MINA bulls must accumulate themselves to register their breakout from the channel. MINA crypto is still looking for support and looks like bulls are finally trying to reverse the falling momentum of MIAN coin. Volume change can be seen below average and needs to grow for MINA to sustain. Technical indicators suggest the uptrend momentum of MINA coin.

Technical Levels

Support Levels: $0.55 

Resistance Levels: $0.65

Disclaimer 

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


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