A Buy or Sell Opportunity?

Mina price keeps its range play intact near the 20-Day exponential moving average. The pair found buyers’ support on the second consecutive day and has erased the weekly losses in the last two sessions. 

At the time of writing, the MINA crypto was at $1.198 recording a swift intraday rise of 1.62%. It has a market capitalization of $1.259 Billion and ranks 55th in the overall crypto market. Moreover, the volume-to-market cap ratio is 4.04% suggesting low volatility.  

Moreover, Mina cryptocurrency has been trading in a bullish territory since last week. The crypto took a rebound from the 50-Day EMA and gained traction to resume on the higher side and registered a growth of over 13.24% in the last week. 

Moreover, the bears attempted to drag the price lower in the earlier couple of sessions. However, recovered in the later sessions and currently hovers near the last week’s closing value. 

Mina Price Technical Analysis

Moreover, the trend analysis witnesses the formation of a declining parallel channel pattern over the daily chart. The crypto has been rolling between the lower and upper boundary of the channel pattern and sliding lower forming lower highs. 

Currently, the mina crypto hovering near the upper boundary of the declining channel might drop lower. On the lower side, the 20-Day EMA is acting as a dynamic support and holding the price at the higher levels. 

The breakdown below the 20-Day EMA may initiate a selloff and drag the price near the 200-Day EMA and lower boundary of the channel pattern. 

Moreover, for the crypto to register fresh moves on the upside, more buying volumes are needed to accumulate the price at the current level and break above the recent swing high at $1.32 level. 

The breakout of the declining channel pattern and cern swing high may indicate a shift in structure towards the bullish side and mina crypto could resume its movement on the higher side. 

Mina Price Prediction February 2024

The most optimistic view of analysts assumes that the price may attain a high of $1.39 if it breaks out of the channel pattern by the end of February 2024. However, the pessimistic view of analysts predicts that the price may slide near the recent support levels of $1 

Mina Price Prediction 2024

The price forecast for the year 2024 is that the MINA token price could reach a high of $1.940, suggesting a potential gain of nearly 62.68%. On the other hand, the bearish outlook of the analysts predicts that the price could reach $1.644 by the end of the year.

Mina Price Prediction 2025

By the year 2025, the Mina price may attain $2.648 on the upper end. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $1.957.

Disclaimer

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

Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages ​​and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.