MINA USDT Mina Protocol Technical Analysis

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By Frans van Elst

Mina Protocol logo In this Mina Protocol technical analysis, we will examine the current price action, trading volume, key levels and indicators for MINA-USDT. Mina Protocol is a decentralized platform that enables the creation and execution of smart contracts on the blockchain. With its novel architecture and innovative features, MINA offers faster and more secure transactions compared to other blockchain networks. By leveraging zk-SNARKs technology, Mina Protocol ensures privacy and confidentiality for users while maintaining a high degree of security.

Mina Protocol Price Overview:

As of May 23, 2024, Mina Protocol is trading at approximately 0.7782 USDT. Let’s dive into the detailed price action for MINA-USDT:

Acknowledge bearish outlook for Mina Protocol (MINAUSDT) at 7.78e-01 USDT with technical analysis, emphasizing weakened support and cautionary indicators.

Metric Value
Open (O) 0.8023
High (H) 0.8199
Low (L) 0.761
Close (C) 0.7782
Volume (C) 6,249,414.00
  • Open (O): The opening price for today’s trading session was approximately 0.8023 USDT.
  • High (H): Mina Protocol reached a daily high of around 0.8199 USDT.
  • Low (L): The daily low for MINA-USDT was approximately 0.761 USDT.
  • Close (C): At the time of analysis, Mina Protocol is trading near its daily close of 0.7782 USDT.
Metric Value
1D Change (%) -3.00%
3D Change (%) -8.20%
7D Change (%) -1.28%
30D Change (%) -15.01%
90D Change (%) -37.85%
YTD Change (%) -42.49%

Over the past three days, MINAUSDT has dropped by approximately -8.20%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -1.28%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MINAUSDT maintaining a downward trend of approximately -15.01%, despite intermittent fluctuations. Examining the last 90 days, MINAUSDT has witnessed substantial fall of approximately -37.85%, reflecting strong long-term confidence. Year-to-date, MINAUSDT has steadily declined by around -42.49%, 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-USDT 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 0.73505.
  • Momentum score is -0.03473.

MINA USDT Technical Analysis

Mina Protocol Trading Volume:

The trading volume for Mina Protocol (MINA) over the past 24 hours has been insignificant, with approximately 6,249,414.00 USDT 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-USDT is currently in the low zone, around 43.61436. This suggests that Mina Protocol is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Mina Protocol (MINA-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.

Acknowledge bearish outlook for Mina Protocol (MINAUSDT) at 7.78e-01 USDT with technical analysis, emphasizing weakened support and cautionary indicators.

Missing our detailed breakdown on MINA BTC 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.

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