Mina

MINA produced a 10% rebound off the $1.29 support level to sustain its upward price trajectory. Earlier, the altcoin had suffered a dip after hitting the $1.5 price level. However, buyers rallied significantly to reverse the price dip and extend the bullish momentum.<h3 id="buyers-can-look-to-re-enact-previous-profit-targets-from-key-support-level">Buyers can look to re-enact previous profit targets from key support level</h3>Analyzing MINA’s price movement on the four-hour timeframe showed an interesting price pattern which could be beneficial to short-term traders.The areas marked by the blue rectangle on the price chart showed that price tends to retest the new support level after a breakout before continuing the upward movement.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/156c0576ded9418b8e6e3bf98751a64b.png" />MINA/USDT on TradingView (4H Timeframe)This typically produces a 15-20% profit margin in the short term. With MINA successfully re-testing the new support level in the past 12 hours, buyers can ride the bullish wave from the current market price ($1.39) to $1.8 for a 15-20% profit target.The Relative Strength Index (RSI) echoed the bullish sentiment, as it hovered just below the overbought zone. Likewise the Moving Average Convergence Divergence (MACD) indicator posted a bullish crossover along with green histogram bars over the past day. This was a confirmation of a continuation of the bullish trend after the price dip.Meanwhile, Mina Protocol developers teased a new update that would make Mina Protocol compatible with Ethereum. This could potentially increase the adoption of Mina Protocol as a layer-two solution for Ethereum and boost the price of MINA in the long term.

MINA Bounces off Key Support Level - Will Bullish Momentum Continue?

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