Page Analysis – MINA breaks crucial trend line

MINA has now broken a crucial trend line. This has caused MINA to lose substantial bullish momentum, with the MINA price action now firmly in the hands of BTC.

Page Analysis believes that BTC is set for a swift move towards $44,000 USD. This is likely to cause temporary bullish capitulation for altcoins across the board, setting a healthy correction in progress. However, if BTC breaks above the $52,000 USD level, this will invalidate the current bearish sentiment we have. Positive break of $52,000 USD and BTC will be looking at $57,000 USD.

We believe that there is a 20% chance that this bullish scenario occurs. On the whole, MINA is not bearish. Rather we have a short term corrective move which will allow for MINA HODLers to accumulate. From the green $2.6 USD zone pullback zone, MINA is looking for a further move up.

The Page Analysis long term MINA target remains at $4.5 USD.