In this Mina Protocol technical analysis, we will examine the current price action, trading volume, key levels and indicators for MINA-BTC. Mina Protocol is a decentralized platform that enables the creation and execution of smart contracts on a blockchain-based network. It utilizes a novel consensus algorithm called “Ouroboros” to ensure fast, secure, and energy-efficient transactions. With MINA, developers can build and deploy a wide range of decentralized applications (dApps) without worrying about the limitations of traditional blockchain technology.
Mina Protocol Price Overview:
As of May 14, 2024, Mina Protocol is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for MINA-BTC:
| Metric | Value |
|---|---|
| Open (O) | 1e-05 |
| High (H) | 1e-05 |
| Low (L) | 1e-05 |
| Close (C) | 1e-05 |
| Volume (C) | 72,680.90 |
- Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
- High (H): Mina Protocol reached a daily high of around 1e-05 BTC.
- Low (L): The daily low for MINA-BTC was approximately 1e-05 BTC.
- Close (C): At the time of analysis, Mina Protocol is trading near its daily close of 1e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.82% |
| 3D Change (%) | -7.20% |
| 7D Change (%) | -9.02% |
| 30D Change (%) | -0.49% |
| 90D Change (%) | -57.78% |
| YTD Change (%) | -62.12% |
Over the past three days, MINABTC has fallen by approximately -7.20%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -9.02%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MINABTC maintaining a downward trend of approximately -0.49%, despite intermittent fluctuations. Examining the last 90 days, MINABTC has witnessed substantial drop of approximately -57.78%, reflecting strong long-term confidence. Year-to-date, MINABTC has steadily depreciated by around -62.12%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Mina Protocol Live Chart:
You can access a live price chart for MINA-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.39879.
- Momentum score is -0.12563.
MINA BTC Technical Analysis
Mina Protocol Trading Volume:
The trading volume for Mina Protocol (MINA) over the past 24 hours has been insignificant, with approximately 72,680.90 BTC traded against MINA. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): MINA is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Mina Protocol is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for MINA-BTC is currently in the low zone, around 37.01375. This suggests that Mina Protocol is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Mina Protocol (MINA-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Receive signals of caution for potential Mina Protocol (MINABTC) downturns at 1.21e-05 BTC through bearish technical analysis, accompanied by weakened support and cautionary indicators.
Missing our detailed breakdown on MINA USDT Mina Protocol Technical Analysis would be a lost opportunity if you found value in this post.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.