- The price of the MINA has begun to follow the downward trend
- The current price of the MINA is surfing around and has dropped by
- The pair of MINA/BTC is surfing around
The MINA is approaching a downward trend the decreasing price of the coin could be a fatal defeat for the bulls. It is a critical need for MINA’s investors. The bulls are reliable. Bulls must give some upward momentum for market investors to survive. Following the crypto market crash, MINA has recovered to its starting point and is continuously working hard. The bears are making the most of a bad situation. The decreasing trend persists.
The current price of MINA is currently at approx $0.9219 and it has risen around 1.56% during the intraday trading session. The pair of MINA/BTC is currently at approx 0.00003843 BTC and it has dropped by 0.13%. The decrease in the price indicates that the sellers are getting in action the price is reaching upto the primary support of approx $0.7709 if the bulls don’t get in action it will be so easy for the bears to take the price of the token to its secondary support of $0.8353 and the bearish trend will continue. And if bulls try to bring upward momentum then it may reach upto the primary resistance of approx $0.9764 and if the bullish trend continues the price may reach upto the secondary resistance of $1.0244.
The volume of the MINA has dropped by 36.69% during the intraday trading session. The continuous drop in the volume indicates that the short-selling pressure has increased and the selling is getting increased. The volume to market cap ratio is around
Know some technical indicators
The coin’s price is higher than the 20-day exponential moving average, but it is still short of the 50,100,200 Daily Moving Average. The bears’ delegation movements are creating fresh obstacles for the bulls every day. MINA is working hard to gain upward momentum, but the bears have different ideas for Litecoin. The volume slump plainly reveals that short-selling pressure on MINA has risen. In order to restore volume, bulls must take some action.
The technical indicator shows the following: The Relative Strength Index is approaching oversold territory. The current RSI is 64.84 which is above the average RSI of 63.63. The bulls worked hard to get the RSI back to normal. However, bears took advantage of the bulls’ preparations and pushed the RSI into the oversold zone. MINA investors counted on the bulls to meet their expectations. However, the bullish trend is undermining investors’ hopes. MINA investors are watching the daily price chart for any directional movement.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/08/12/mina-price-analysis-the-return-of-the-downward-curve-could-be-a-matter-of-concern-for-the-investors/