MINA Short Term Technical Analysis
We will be looking at the MINA chart in the short time frame, as it does not have a satisfying price performance in the long term. MINA has renewed all-time low (ATL), and for this reason, it might be offering opportunities on the futures side.
MINA managed to rise above the resistance level of $0.174 subsequent to its last decline. The area $0.189–$0.195 will be the first resistance area the price is likely to test. Should the price break this resistance swiftly, the first target might be the level $0.214, and then we have the important price zone $0.234–$0.241 on the horizon, where we could witness the most intense sell pressure. In case of a pullback from this level, the price might go down to the level of $0.195 once again.
If the price, however, keeps rising upwards in spite of the sell pressure around the resistance zone, it is likely to target the level $0.267. If the price does close daily above this level, then it indicates the downtrend is over.
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
