MINA Technical Analysis: Sustenance Above $3 Toys $5 Breakout

Key technical points:

Past Performance of MINA

MINA coin price action shows a phenomenal bullish recovery rally starting from the $1.5 mark and sustaining above $3. The rally surpasses all the resisting EMAs and survives the recent selling observed all over the market. Despite the higher price rejection, the rally continues and strives to approach the $5 mark.

Source-Tradingview

MINA Technical Analysis 

MINA coin price has grown by 106% in the last 24 days and reflects a post-retest reversal rally starting from the $3 mark. Hence, the inflation may rise to hit the $5 mark shortly.

The bearish aligned EMAs show a reversal and increased chances of bullish crossovers in the daily chart. Moreover, the price sustaining above the 200-day EMA reflects a solid underlying bullishness.

RSI Indicator: The RSI slope enters the overbought territory after struggling to surpass the 70% mark. Moreover, the 14-day SMA is at the edge of the overbought territory.

MACD Indicator: The MACD and signal lines continue the uptrend after avoiding a bearish crossover. Hence, the indicator gives a bullish signal.

In a nutshell, the MINA technical analysis gives a buy signal as the uptrend is ready to approach $5.

Upcoming Trend 

MINA coin price sustaining above the $3 mark increases the chances of an uptrend approaching the $5 mark. Moreover, if the buyers regain trend control, a breakout of $5 can help create new ATH above $6.

Support Levels: $3 and $2.60

Resistance Levels: $5 and $6