๐๐๐ Is It Too Late to Buy Mina Protocol?
#MINA๐ Price Jumps 8% as New
#Mining Protocol Receives $7 Million in Funding ๐๐๐
Mina Foundation's cryptocurrency, MINA, has seen notable growth since December 19, driven by key developments and strategic moves. The appointment of Kurt Hemecker as the new CEO brings valuable experience in FinTech, expected to drive strategic growth. The foundation's relocation to Geneva, Switzerland, taps into the favorable regulatory environment for cryptocurrencies, enhancing global integration. Additionally, the launch of the Paima ZK layer, a collaboration with Paima Studios, ZekoLabs, and Class Lambda, represents a significant advancement in blockchain gaming technology.
As of now, MINA is trading at 1.64
#USDT with a market cap of approximately $1.57 billion. Short-term indicators show resilience and growth, with a strong bullish phase reflected in a +4% hourly change, +9% in the last 24 hours, and a substantial +28% over the past week. Technical indicators, including moving averages (20-day, 50-day, and 100-day), MACD, and an ascending triangle pattern on hourly charts, suggest sustained positive momentum.
The Relative Strength Index (
#RSI ) at 81.87 indicates potential overbought conditions, often preceding a retracement. Support and resistance levels, along with Fibonacci retracement, provide key zones for traders to monitor. Despite the robust upward trajectory, caution is advised due to the overbought RSI levels, suggesting potential retracement. Traders may consider a balanced approach, capitalizing on upward momentum while managing risks with strategic stop-loss orders near key support levels.
While MINA has seen impressive gains, the cryptocurrency market continues to introduce promising projects. Bitcoin Minetrix (BTCMTX) is one such venture capital-backed project aiming to democratize Bitcoin mining through an innovative staking model.
Source - Trent Alan @trent-alan
Website - Cryptonews
#BinanceSquare $MINA