MINA Price Analysis: MINA Skyrockets 72% To A New All-Time High At $6.72

MINA price has rallied 22% over the last 24 hours to the current price at $5.90. The recent rally saw MINA reach a new all-time high around $6.72 on Thursday.

MINA price is on a roll after rallying approximately 72% from a low of $3.92 on Wednesday November 10 a new record high around $6.72. This rally as seen MINA smash the September 14 all-time high (ATH) around $6.57 bringing its market capitalisation to $1,723,769,515 which is up 17% over the last 24 hours according to data from CoinMarketCap. The current MINA rally has seen the asset secure a position among the top 100 cryptocurrencies by market capitalization.

MINA Price Technical Analysis

MINA is currently in the hands of the bulls as it trades in the green at $5.90. The bulls are who are focused on pushing the price past the $7.0 psychological level. However for this to happen, MINA bulls must discover support at the $5.87 level. If this happens, bulls will be bolstered to push MINA above $7.0 as price discovery continues.

But before this happens, MINA will have to overcome the resistance around the $6.176 level where Mina price was rejected five times in September.

MINA’s bullish outlook is accentuated by the appearance of three white soldiers bullish candlesticks on the daily chart. Also the position of the Relative strength Index (RSI) indicator at 76.17 suggests that MINA price is comfortably in the hands of the bulls who are aiming for higher highs in the near-term.

Also the increasing trading volume points to increased trader activity as MINA continues to exchange hands. The daily trading volume currently stands at $786,260,945 after increasing by 40% in the past 24 hours, which is a significant bullish sign.

MINA/USD Daily Chart

Note that is things go awry for MINA bulls and they fail to discover support at the $5.87 level, the asset will drop to tag the $5.66 support wall. Massive sell orders could see MINA price dip further towards the $5.67 and $5.16 support walls respectively.


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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