Mina Price Analysis: Will MINA Coin Breach The All-Time Level Of $6.4?

Source : coingape.com

From a technical perspective, the MINA/USD chart indicates a positive outlook for this coin, as its price has surged 44% in just two trading days. This coin is quite near to it’s All-Time High level, and a breakout from this level will indicate high potential for MINA coin price.

Key technical points to consider:

  • The MINA coins daily RSI line about to reach the overbought territory 
  • The intraday trading volume in the MINA coin is $1.1 Billion, indicating a massive 2014.3% hike

Source- MINA/USD chart by Tradingview

On September 14th, the MINA coin rally was rejected from the $6.5 level, marking it as the New All-Time High in the technical. This bearish reversal plunged the coin price near the $4 mark, where it started experiencing sufficient supply pressure.

The coin tested this support multiple times, and then one fateful day, i.e., on November 10th, the price managed to bounce back from this support, initiating a significant movement in the MINA/USD chart. This coin has gained 44% in just two trading days and showed a tremendous interest of crypto traders by a 2000% volume hike.

The coin is currently trying to breach the All-Time High resistance around the $6.5-$6.35 mark. And as for the Relative strength index(75), it shows a steady growth towards the overbought region.

MINA/USD Chart In The 4-hour Time Frame

TradingView Chart

Source- MINA/USD chart by Tradingview

In this lower time frame chart, the MINA coin has provided a candle closing above the $6.5-$6.35 resistance level. However, the retest candle has dropped more than expected, which indicates a slight threat of a fake-out.

The crypto traders can wait to see if the price could provide a daily candle closing above this crucial resistance to get a proper confirmation for a long trade. This MINA coin is currently trading at $5.98, with an intraday gain of 16.7%.

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Disclaimer
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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