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MINA cryptocurrency has recorded an impressive gain of around 26% in the last 24 hours, topping the list of top-performing cryptocurrencies in the market. The altcoin has made a solid rally since late January, breaking through the crucial $0.80 resistance level and reaching a high of $1.02 earlier today.
Mina is currently trading at around $0.8433, with the current resistance level present at around $1. If the bulls can manage to push past this potential resistance level, then further upside is expected for MINA. However, a correction may be in order if the buyers cannot sustain their current momentum.
There are two major support levels at around $0.75 and $0.65 respectively, should Mina fall back down during the correction period. The 50-day exponential moving average (EMA) at $0.53 could also act as strong support in the event of a further decline.
Looking at the popular technical indicators, the Moving Average Divergence Convergence, MACD is well above the red signal line and is headed upwards. This is a sign of further bullish momentum in the near future.
The relative strength indicator (RSI) suggests that the Mina market is still overbought, but there is no bearish divergence to suggest an impending reversal at this stage.
Overall, MINA has gained considerable traction in recent days and looks likely to extend its rally in the days ahead. However, in a bearish scenario, there are strong support levels at around $0.75 and $0.65 that will help limit any potential losses.
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