{"id":5919,"date":"2023-10-25T11:04:40","date_gmt":"2023-10-25T11:04:40","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=5919"},"modified":"2023-10-25T11:04:40","modified_gmt":"2023-10-25T11:04:40","slug":"what-is-the-reason-for-the-big-rise-in-mina-mina-coin","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/what-is-the-reason-for-the-big-rise-in-mina-mina-coin\/","title":{"rendered":"What is the Reason for the Big Rise in Mina (MINA) Coin?"},"content":{"rendered":"

In this article, we will analyze the past price movements of Mina (MINA) coin<\/strong>\u00a0through price analysis, charts, and technical indicators. We will determine support and resistance levels and guide investors for buying and selling decisions.<\/p>\n

When we thoroughly examine the Mina<\/strong> chart, we observe that it has formed a bottom trend since July 20, 2021<\/strong>. Also, we notice that there is a trend line forming peaks starting from November 11, 2021<\/strong>. When we combine these two trend lines, we create a descending wedge<\/strong> formation. Since this descending wedge formation has been a formation lasting for approximately 825<\/strong> days, it’s challenging to break. But, once it breaks, it could be considered a factor that increases the likelihood of experiencing sharp rises.<\/p>\n

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You might like: Bitcoin Rise Caused Some Loss!<\/strong><\/em><\/a><\/p><\/blockquote>\n

\n

Now let’s come to the events of yesterday and the reason for the sharp rise in Mina<\/strong>. After the news that the UPBIT<\/strong> exchange will list Mina<\/strong> in the early hours of yesterday, it caught a sharp rise and broke the descending wedge formation. After this break, both investors following the fundamental analysis and investors following the technical analysis evaluated this event as an opportunity and created buying pressure that complies with the analysis. Investors who observed a specific market value for Mina (MINA) coin and recognized the project’s positive evaluation didn’t hesitate to purchase it during these transactions.<\/p>\n

In conclusion, the trigger of a sharp rise was the formation break in Mina’s<\/strong> technical analysis and the gathering of positive fundamental news. These situations triggered great interest among investors in the cryptocurrency market and accelerated price movements.<\/p>\n

Mina Coin Price Analysis<\/h1>\n

When we inspect Mina<\/strong>‘s Protocol<\/strong> on the chart, we observe that it gained an upward trend after forming a bottom around $0.3561<\/strong>. Alongside the news of being listed on the UPBIT<\/strong> exchange, it broke the descending wedge<\/strong> formation at a level of $0.4043<\/strong>. In a short time, it moved upwards, exceeding the levels of $0.4960<\/strong> and $0.6910<\/strong>. However, due to later incoming seller pressure, it retreated and approached the support levels.<\/p>\n

If Mina<\/strong> loses $0.6910<\/strong> support, it could look for a new support level around approximately $0.4910<\/strong>. If this support level doesn’t break, it can move horizontally for a short time and then continue to rise again towards $0.9180<\/strong> resistance.<\/p>\n

Looking further, it can continue its rise up to the target level of the descending wedge<\/strong> formation, which is $2.8645<\/strong>. However, in any cryptocurrency, one needs to carefully monitor factors that affect prices.<\/p>\n

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In the comment section, you can freely share your comments and\u00a0 opinions about the topic. Additionally, don\u2019t forget to follow us on Telegram<\/strong>,\u00a0<\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

In this article, we will analyze the past price movements of Mina (MINA) coin\u00a0through price analysis, charts, and technical indicators. We will determine support and resistance levels and guide investors for buying and selling decisions. When we thoroughly examine the Mina chart, we observe that it has formed a bottom trend since July 20, 2021.<\/p>\n","protected":false},"author":2,"featured_media":5918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,9],"tags":[1230,2135,2137,2136,2153,2123,1438],"class_list":["post-5919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coin-analysis","category-crypto-news","tag-coin-analysis","tag-mina","tag-mina-analysis","tag-mina-coin","tag-price-anaylsis","tag-price-prediction","tag-upbit"],"yoast_head":"\nWhat is the Reason for the Big Rise in Mina (MINA) Coin? - Coin Engineer<\/title>\n<meta name=\"description\" content=\"In this article, we will analyze the past price movements of Mina (MINA) coin\u00a0through price analysis, charts, and technical indicators.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/what-is-the-reason-for-the-big-rise-in-mina-mina-coin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is the Reason for the Big Rise in Mina (MINA) Coin? 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