MINAUSD Will be extremely bullish if it breaks this Resistance

31 בינו׳ 2023

MINAUSD has been on a short-term Parabolic Rally since it broke above the 1D MA50 (blue trend-line) and later the 1D MA200 (orange trend-line). Right now it is approaching the most important Resistance Cluster of the past 6 months as not is it just below the November 10 2022 Lower Highs trend-line (basically the Bear Cycle Resistance) but also the 1W MA50 (red trend-line (that has never been broken) and the 0.9950 August 10 High.

It is easy to realize that breaking above this cluster will make Mina gain incredible buying momentum and new buyers will enter the market for the long-term. Ideally we would like to see a 1D candle closing above the 0.382 Fibonacci retracement level. Then our targets will be each upper Fib level in succession.


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