zkApps are about to launch on $MINA. This is the most important innovation in crypto since smart contracts, zkrollups, and NFTs were invented.
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A massive leap forward that
$MINA should really start to take off soon.
Keep an eye on $1.55 and $1.80 (blue lines). These are the only major resistance points I see ahead before $3.
Let's go!
True story.
I lost my job a week ago. The project I was working on had its funding pulled. No warning. Entire team let go a a week before Christmas.
$MINA is literally saving me right now. Feeling very grateful.
$MINA this is where things start to get interesting.
The only near-term resistance I see on the chart is between $1.70 and $1.75, which we already touched this morning.
$1.70 - $1.75 represents the recent local high and also upsloping resistance from previous highs.
If we can
Once $MINA broke resistance, it's surged above. This is exactly what we wanted to see. Well done to everyone that took a position.
Next up, I'd really like to see the daily & weekly close above $1.20. That would be the most bullish scenario.
I like to call this chart pattern stairway to heaven. I've seen it on a lot of charts recently and it was always followed by a large green candle.
It looks like $MINA is about to blow through resistance.
There's a ton of momentum building on $MINA right now.
It's looking like it wants to break resistance at ~$1.20, which represents the high of 2023.
If it does break above, ~$1.60 is in play. I'd expect a strong pullback there.
$MINA has shaken all of the bearish indicators that were flashing over the past week. It's looking surprisingly strong here.
It had 2 consecutive daily closes above the 20dMa. In addition to a higher high and a higher low. All signs of strength.
At this point, the major risk is
Pretty surprised by the lack of price action here. With $BTC at ATHs again, I would have expected $MINA to be at $3 already.
It might all come in one or two weekly candles instead of a slow grind up. Time will tell.
Extending a line from the Aug '22 pivot high to Feb '23 pivot high suggests there is additional resistance at $1.70.
Between $1.60 and $1.70 is $MINA's make or break moment.
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Hey $MINA fam I decided to put MinaReport on hold while I start the next chapter of my career.
Just wanted to give you a heads up. I won't be posting updates for the foreseeable future.
I hope to be back soon!
$MINA is now back above the 20d.
Next stop is between $1.50 - $1.55. Expecting a bit of resistance here as we break through recent highs and down slopping resistance.
$MINA likely consolidates for a bit between $0.74 and $1.
We want to see $0.74 hold as support to retain bullish momentum.
A daily close above $1 would be extremely bullish.
$MINA losing a bit of steam after a big run.
Ideally, it holds support at ~$1.20 and continues upwards. Looking for a strong bounce here.
If not, the next level of support is at ~$0.87.
Markets are looking dicey here.
$MINA has held up well so far. However, major support is around $0.86.
If things get very ugly, we may get a full retrace down to the prior resistance.
I've sold a quarter of my position around $1.20 just in case we dump hard.
$MINA is in a difficult spot here. Multiple daily closes below our major support line. However, it has found support at the 20w at $1.09.
A daily close above $1.27 would get us back on track. A weekly close below $1.09 would signal a move to under $1.
Difficult to say which
$MINA looking stronger now. A multi day bounce off of support at $1.20 is exactly what I wanted to see.
If $BTC holds up, I'd expect MINA to test $1.60 - $1.70 soon.
We're at the point of the cycle where volatility is getting out of control.
$MINA bounced all the way off the 20dMa at $1.05.
Markets can go either way. One more test of $1.70 is possible with ETF approval. Be careful here.
UPDATE:
$MINA bounced off of lower support. Sitting ok for now.
The lower blue line represents support going back to Oct 2023. We've touched this line 5+ times over the past 6 months and it has held each time.
We really need to stay above to continue bullish momentum.
I tweet weekly price signals for $MINA. No BS. Just simple charts with the help of an algorithm I built.
If you want to stay ahead of price changes, please follow me.
Thank you!
Crypto getting destroyed while the stock market and tech stocks soar to new ATHs this week. 🤔
This feels like the final shakeout before the next leg up begins.
Especially when considering the softer than expected inflation data.
$MINA is now back above the 20d.
Next stop is between $1.50 - $1.55. Expecting a bit of resistance here as we break through recent highs and down slopping resistance.
Just picked up a small position in $MINA at $1.08.
Lots of panic selling right now. Down 35% in a few days. If it drops below $1, I'll add to my position.
Hey $MINA fam
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Once $MINA broke resistance, it's surged above. This is exactly what we wanted to see. Well done to everyone that took a position.
Next up, I'd really like to see the daily & weekly close above $1.20. That would be the most bullish scenario.
Just picked up a small position in $MINA at $1.08.
Lots of panic selling right now. Down 35% in a few days. If it drops below $1, I'll add to my position.
My $MINA tweets have had really good engagement this past week!!
Having a ton of fun tweeting the chart setups. Thanks again for following me and engaging with my content. Much appreciated.
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UPDATE
$MINA regained both support levels within 12h. The dip was bought up quickly. Bullish.
-20% capitulation moves in a bull market are typically aimed to liquidate people trading on 50x leverage.
After the smoke clears, strong bounces usually appear. Let's see if tomorrow
$MINA not showing much life here. There's 2 major levels of support I want to see hold.
$1.25 - The 50dMa (purple line)
$1.19 - Upsloping support since Oct 23.
I wouldn't get worried until both levels were lost.
We touched resistance on the weekly $MINA chart that goes back to the pivot low of MAR 2022.
A weekly close above $0.88 would get us above. Keep an eye on this.
$MINA losing a bit of steam after a big run.
Ideally, it holds support at ~$1.20 and continues upwards. Looking for a strong bounce here.
If not, the next level of support is at ~$0.87.
Interesting last couple of days on the $MINA chart.
Huge drop yesterday on low volume, followed by a quick rebound to 20dMa today.
Still a good chance we see $1+ in the weeks to come.
$MINA hasn't regained the support line just yet.
It had a nice bounce off the lows but I wont feel too confident until we close back above $1.27.
I still have some low ball buy orders near $1 just incase we get a deeper crash.
A few days ago $MINA was looking strong but I warned that if $BTC continued to dump, MINA would dump with it.
BTC price action is still king and determines the general direction of MINA.
$MINA has shaken all of the bearish indicators that were flashing over the past week. It's looking surprisingly strong here.
It had 2 consecutive daily closes above the 20dMa. In addition to a higher high and a higher low. All signs of strength.
At this point, the major risk is
Bitcoin dominance falling on the ETF fake out news.
Meanwhile, ETHBTC up 4.5% on the news. This may suggest we get more action in alts as people rotate out of the crowded $BTC trade.
$MINA
$MINA down slopping resistance vs upsloping support.
One of these is going to have to give in the next few days.
Losing the upsloping support would make the chart even more bearish since this has been key support for the entire bullish move over the past few months.
$MINA is in a difficult spot here. Multiple daily closes below our major support line. However, it has found support at the 20w at $1.09.
A daily close above $1.27 would get us back on track. A weekly close below $1.09 would signal a move to under $1.
Difficult to say which
$MINA likely consolidates for a bit between $0.74 and $1.
We want to see $0.74 hold as support to retain bullish momentum.
A daily close above $1 would be extremely bullish.
Hey $MINA stakers, question for you...
When calculating taxes for staking yield, how do go about getting the fiat price for each yield payout?
Do you manually lookup the fiat price on each date on coinmarketcap, tradingview, etc?
Or, something else?
Best case scenario for $MINA today (or tomorrow) would be to close above the 20dMa and prior support at $1.20. Need to regain the prior range quickly.
Next week is $BTC ETF week. Expect volatility. Alts should get some action if approved.
I would have liked to see $0.74 established as support for $MINA for max bullishness but we closed below.
The 20dMA is coming in at $0.66 which should hopefully hold as our next line of defense.
Things change fast.
The crypto market looks done here. I took profits on my $MINA position at $1.23 for another 20% profit.
It's possible ETH still gets a pump, but going to wait in cash and see what happens from here.
$MINA next major support is near $0.96 at the 200dMa.
We haven't tested the 200d this entire bull cycle. It will be good to see if we test and hold it and get a strong bounce.
UPDATE:
$MINA looking solid here. Nice recovery from the heavy fear selling over the weekend.
Fighting to close above the 20dMa at $1.23.
My algo even printed a buy signal today.
I was worried when the stock market and tech stocks were selling off the other day, but they're now showing signs of life.
A technical bounce for $MINA may be imminent. I re-entered my position at $1.02.
BTW follow me at
@Layer1Report
for more market signals.
Tech stocks are starting to show some life again.
My model printed a new buy signal for $QQQ at $443.
If this holds up tomorrow, I'd expect some positive price action in crypto into the weekend.
Looking forward, I still think $MINA breaks through the ~$1.70 resistance on the next attempt.
The bigger question is how long must we wait for another test?
Hard to say.
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$MINA looking stronger now. A multi day bounce off of support at $1.20 is exactly what I wanted to see.
If $BTC holds up, I'd expect MINA to test $1.60 - $1.70 soon.
I sold my position in $MINA today for an average price of $1.42.
A 145% profit in 50 days is insane. More than happy to lock in profits here.
It still may climb higher. However, massive resistance near $1.60.
I'll wait patiently for a retrace.
Targets for $MINA over the next few months
Support : $0.52
Target 1: $0.95
Target 2: $1.20
Target 3: $1.66
I've started buying at $0.58 and will continue to add to my position if it drops to support.
$MINA looking ready to test the 50dMa at $1.09.
As I mentioned before, a close above would get me bullish again in the short-term.
Need to see a daily close above before getting too excited.
Targets for $MINA over the next few months
Support : $0.52
Target 1: $0.95
Target 2: $1.20
Target 3: $1.66
I've started buying at $0.58 and will continue to add to my position if it drops to support.
UPDATE
$MINA started a new daily candle on the other side of the down slopping resistance. This is not the most ideal way to "break" resistance.
All eyes on the 20dMa now at $1.27👀
Update on $MINA.
Not much has changed. The down slopping resistance is still holding the price down and the bear flag is starting to break down.
I remain bearish until we get through resistance.
Bitcoin dominance falling on the ETF fake out news.
Meanwhile, ETHBTC up 4.5% on the news. This may suggest we get more action in alts as people rotate out of the crowded $BTC trade.
$MINA