MINA Crypto Price Prediction January 2023 – Mina Protocol Up 35% This Week
MINA crypto has displayed extremely bullish momentum over the last 7 days boasting a pump beyond 30%.
With the bulls in full control traders anticipate positive price continuation to the upside.
Whilst it seems $0.94 was a major resistance earlier today, speculators are still targeting a $1 price level.
Will MINA continue to pump and which alternative altcoins offer more potential?
MINA Protocol Price Prediction January 2023
Over the last four weeks Bitcoin has embraced great volatility yet has delivered a strong recovery for the bulls for the first month of 2023.
As the Bitcoin price continues to pump beyond $22,500 altcoins are also being dragged up along with its positive price correlation.
MINA Protocol currently trades at $0.821 and soared to a huge high earlier today of roughly $0.94.
In the last five trading weeks MINA has surged in price over 110% with 5 green consecutive weekly candles.
From a technical analysis perspective MINA is breaking out of a slanted double-bottom pattern.
Effectively this is a bullish reversal pattern that usually leads to an increase in price and on this particular occasion exactly that has occurred.
MINA traded sideways for 231 days battling between support and resistances and has finally pumped this week.
A key level of resistances resides at $0.99. This is a technical target the bulls may be able to achieve if the support level of $0.80 can be held.
If MINA loses structure and the price folds through this particular support level we might see negative price continuity back to the top of the descending channel support trendline at $0.65.
It is usually advised not to chase green candles (experiences of FOMO) in a bear market where resistances are usually technical targets and experience large selling pressure.
Instead traders try to pick the oversold positions on the relative strength index and take advantage of extreme fear scenarios.
Mina Protocol Continues to Grow
Over the last few months MINA expanded further and the MINA ecosystem has 145 monthly active developers.
According to their latest Tweet this is up 96% over the year and reflects insane growth. Mina Protocol is now among the top 30 projects in terms of total developers.https://www.twitter.com/MinaDevelopers/status/1618673106264141824/photo/1
According to Coinmarketcap Mina Protocol now has a market capital of $667 million. This is an ideal bear market valuation as it means whilst volatility will not be insane there is plenty of room left for long term growth.