Is Mina Protocol Going to Zero? MINA Price Crashes 7% as This Other Coin Hits New Milestone – How to Buy?
After an explosive +140% rally, Mina Protocol (MINA) price has crashed down -7% in a dramatic retracement move, leaving some panicked bag-holders asking ‘Is Mina Protocol Going to Zero?’.
This comes amid a collapse in 24-hour trading volume, which surged to $1bn in the midst of the skyrocket move, before tumbling back down to current levels at $82m.
Top 10 #Crypto Performers in past 7 Days within Top 200 Marketcap Coins:
1. $FLOKI 94.89%
2. $PEPE 83.31%
3. $MINA 59.20%
4. $TRB 55.66%
5. $CFX 49.86%
6. $INJ 47.51%
7. $LINK 42.74%
8. $RUNE 40.24%
9. $LQTY 38.52%
10. $POLY 38.17%
— Ava monaro (@AvaMonaro) October 27, 2023
Despite the retracement move, Mina Protocol is still sat atop a 59% week-on-week gain – leaving healthy gains in the wallets of MINA holders and ranking the promising project in the top 10 weekly gainers.
The retracement move has left Mina Protocol currently trading at a market price of $0.62 (representing a 24-hour change of -4.93%).
However, three days of consolidatory moves has left with emerging footing around the $0.60 price level – suggesting bullish sentiment remains at a higher week-on-week level.
Mina Protocol’s major rally was triggered by a broader market surge after Bitcoin price flew to a 17-month high following the emergence of a CUSIP number for BlackRock’s spot ETF application.
With price now sat high above both the 20DMA (sat at $0.43) and the 200DMA (sat at $0.48), a rising 20DMA appears to be rapidly heading towards a potential future golden cross pattern – which could trigger a second rally leg after consolidation.
Yet, despite the ongoing consolidation, the RSI indicator remains significantly overheated at 69.43 – a bearish signal that could demand prices push down lower.
This is contrasted by the
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