Page Analysis – Mina: Short-term high volatility

Introduction 

The price action from MINA this week has been fantastic. Having retested the $6.5 USD level with an explosive move from $4.1, what is next for MINA? Let’s try and find out…

MINA / USDT 

With MINA making significant moves earlier this week, it has broken through a significant resistance level. Previously $4.9 – $5.2 USD had acted as a major resistance zone, causing sideways movement from late September to mid-November. However, with MINA positively breaking this zone, we now have a new support zone. 

We don’t expect MINA to break below this zone any time soon. From a technical analysis standpoint, the MINA / USDT chart has recently been a difficult beast to tame. However, our medium term target of $8.25 USD remains constant.

MINA / USDT chart

MINA Market Cap Ranking

MINA is currently witnessing an overall downwards trend with its market capitalization rankings. This is a positive thing, with the growth of MINA outweighing that of the overall market. In the image below, we can see MINA is currently above the average trend line. With MINA sticking very close to this trendline since early July, we expect MINA to see an imminent push down. 

With the current trajectory, MINA looks set to hit around 75th by the beginning of 2022. 

MINA Market Capitalization Ranking

MINA Interest

Currently interest in MINA is relatively low. The overall interest is well below what was seen during the MINA Binance listing and MINA ICO period. We expect interest in MINA to increase over the coming weeks as price looks set to increase, as MINA is expected to outperform the market. 

From an interest standpoint, MINA still has significant room to grow. 

MINA Interest Over Past 12 Months

In conclusion
the medium term picture is looking positive for MINA. From a short term perspective – who knows! Volatility is extremely high, the market is within the final stage of this bull run making short term TA relatively useless. We are currently bullish on MINA and from an analysis perspective, don’t have a reason to not be. – https://pageanalysis.xyz


Disclaimer
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