MINA has now broken a crucial trend line. This has caused MINA to lose substantial bullish momentum, with the MINA price action now firmly in the hands of BTC.
Page Analysis believes that BTC is set for a swift move towards $44,000 USD. This is likely to cause temporary bullish capitulation for altcoins across the board, setting a healthy correction in progress. However, if BTC breaks above the $52,000 USD level, this will invalidate the current bearish sentiment we have. Positive break of $52,000 USD and BTC will be looking at $57,000 USD.
We believe that there is a 20% chance that this bullish scenario occurs. On the whole, MINA is not bearish. Rather we have a short term corrective move which will allow for MINA HODLers to accumulate. From the green $2.6 USD zone pullback zone, MINA is looking for a further move up.
The Page Analysis long term MINA target remains at $4.5 USD.
We are not qualified brokers/dealers, or investment advisors. This website and its associated content is not a service for the giving or receiving of financial or investment advice. None of the content constitutes – or should be understood as constituting – a recommendation to enter in any securities, cryptocurrency, or cryptoasset transactions or to engage in any of the investment strategies presented in my discussions or content provided. We do not provide personalised recommendations or views as to whether a stock, cryptocurrency, cryptoasset or investment approach is suited to the financial needs of a specific individual.
Page Analysis is a small group of cryptocurrency traders based in the United Kingdom. We aim to educate users across the industry on price movements of various cryptocurrencies in a non-biased manner. Unlike most technical analysis groups, we are transparent, with no ulterior motives when providing our technical analysis.