MINU Crypto at Demand Zone; Will It Rise Soon or Keep on Falling?

Minu is a Binance Smart Chain-based crypto that offers a unique mining application. This platform rewards its miners with an 8% daily yield in BNB while also enhancing the miners’ Total Value Locked (TVL) by allocating 2% from each transaction towards the mining contract. Participation in mining and earning rewards is exclusive to Minu token holders.

The Minu ecosystem has grown by adding Minu Swap, a decentralized trading platform enabling the swapping of BNB and MINU tokens. Established on the secure Binance Smart Chain, Minu Swap focuses on speed, security, and user convenience. 

The Minu Community is empowered to bring in new ventures for integration and listing on Minu Swap, incurring a nominal fee. This fee is reinvested into purchasing $MINU and supporting the Miner, further bolstering the TVL.

Technical Statistics of the MINU Token

The MINU crypto asset plummeted by 2.59% in market value and optimized by 2.47% in trading volume in the last 24 hours, as per the CoinMarketCap website. Its market value is $2.97 Million, and trading volume is $4.03 Million. There are 5.94 Trillion MINU tokens in circulation.

Technical Analysis of MINU Token Over 1-D Time Frame

The MINU price action shows that in the battle of buyers and sellers, the momentum seemed to be in the bulls’ favor earlier, as the price jumped from the $0.006000 demand level to the $0.014600 supply level.

However, the MINU crypto demonstrated a decline as the price sank from a vital supply level of around $0.014600 on the chart due to the momentum shift from bull to bear.

The crypto is near the demand level and could show a rising potential from the current level if the buyer’s interest increases in the token. On observing the indicators of the MINU crypto, it appears as if it can deteriorate more after this fall, as it has met the resistance level and could dive to new lows from the current support zone.

The MINU crypto is displaying a bearishness and falling tendency as it plunges below major trend EMAs, which rely on the sellers’ surge and could drop more.

The MINU token is displaying bearish characteristics as the MACD shows a bearish crossover with a broad histogram. Similarly, the RSI is falling smoothly after taking rejection from 14-SMA, implying that the MINU asset is losing momentum and can achieve new depths.

The MINU crypto is expressing bearish behavior and shows it can fall further. It has attained lousy performance in the last week, and month, by -18.91% and -23.10%, respectively, implying a stable downward direction.

At press time, the MINU crypto is experiencing a surge of 1.96% in the last 24 hours and is currently trading at $0.006880.

Therefore, if the MINU crypto price fails to stay above the $0.00600 level, it could decline further. In case the demand for the MINU surges high, its price could bounce back from the current level. The next target it could rally for the price is to reach $0.01000 and $0.014000 price levels.

Summary

The MINU price highlights the bearish sentiments and perspectives regarding the crypto asset in the daily time frame. The MINU price action highlights a bearish view at the time of publishing, as it slumped from the pivotal supply level over the MINU daily chart earlier. 

Moreover, the technical parameters of the MINU price suggest the continuation of the downtrend, which relies on the seller’s surge over the daily time frame chart. Major indicators like RSI, MACD, and EMA suggest bearish gestures regarding the MINU price.

Technical Levels

Support Levels: $0.00600

Resistance Levels: $0.01000

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.