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Tag: MINA

  • Mina (MINA) -What does the Chart Show?

    Mina (MINA) -What does the Chart Show?

    Moving to the technical side, and starting from the weekly time frame, the price of MINA has been bearish after it made its all-new all-time high. Recently it is around its all-time low, the drop has been massive and the price has been breaking structures to the downside. Recently the weekly low has been stopped hunted, as when MINA reached that Low, many traders were interested to get in, but they were taken out from the recent move. This allowed the price to get its necessary fuel which resulted in a momentous push to the upside. Moreover recently the harmonic pattern ABCD seems to be over which may result in a push-up of the price.

    Moving down the Daily Time Frame, the price recently has tapped in Daily Order Block, this Order Block is in confluence with the equilibrium of the consolidation range. This zone has added some bullish momentum to the price. Before this tap into the Order Block, the price of MINA did inducement as well which was to take out early buyers, and afterward, the price got the necessary fuel and pushed up.

    MINA - 4H

    Moving down to the last time frame, which is the 4 hour, the price when it was pushing down, the demand failed while the supply was in control. MINA when headed upwards, mitigated that supply zone which was in control and it got a rejection and fell a bit. Now as the bullish momentum is very strong, it’s very likely that it will result in a higher push. The price failed to create a new Low, which was a shift in market structure. This shows the price didn’t want to push much lower. Now there is much Imbalance left in the previous candle which acts as a magnet for the price to react. This can drive prices lower from where we can get in.

    Now as the momentum is very strong, so there are two POI from where the price of MINA can react at the moment. One is Order Block and the other is Breaker Block. AS mentioned the momentum is strong, so in such cases, the price is very unlikely to go to the extreme to react with the Order Block, so Breaker Block is a good Point of Interest and the price can very likely react to it. Talking about invalidation, if BB fails to react, then OB can also serve as a POI, and targets can be around the level of $2.895

  • MINA – Where will it move Now?

    MINA – Where will it move Now?

    According to coinmarketcap, the total supply of MINA is around 824M coins and around 315M coins are in circulation at the moment. It holds the 86th rank according to market cap and has a market dominance of about 0.05%.

    At the time of writing the coin is being traded at the price of $3.71 with a decrease of almost 9.70% in the last 24 hours. The maximum and minimum today are $4.15 and $3.70 respectively. The daily trading volume has also decreased by almost 33.72%. MINA had created its ATH in November 2021 and reached a price of almost $6.674. The price later dropped down to a price of almost $4.547 and the monthly candle closed there. Since then the price has shown reversal and has been on the same trajectory since then. This month alone, we have seen a decrease of about 17.64% in the price.

    Technical Analysis

    On the daily time frame, we can see that the price had a drop from where it started to range for some weeks. It can be seen that soon after, the price went up to mitigate the order block. In this move, it grabbed the liquidity above as well by creating a new all-time high. After touching it, the price dropped down hard and made lower lows.

    Now a point of interest is the daily order block that is lying below, MINA has mitigated this level a few days back and has bounced from there. We can expect the price to reach the middle of the triggering order block, from where we can expect a reaction. It would most probably drop the price down and would touch the order block again as a test.

    MINA -1D

    When the price would touch the lower order block, we can look for a possible entry. This can be a long or a short depending on additional confluences. This 1D order block is very important and MINA should hold this level if it doesn’t want to fall even more.

    Price Prediction – Mina

    According to the traders, MINA is a good investment and is providing a great return. They think that soon MINA would be valued much more. On the other hand wallet investor considers MINA to be a bad investment and according to them, MINA would reach a value of  $0.696 in a single year.