Coming with the lightest and most accessible blockchain structure in the world as scalable, Mina (MINA) is currently 89th in the market evaluation ranking in the coinmarketcap data, and we can see that it has a market value of approximately 1 billion dollars.
At the same time, when we look at the news about the system developer, which will come up to date on the fundamental analysis side, it is seen that it will create a bridge with Ethereum in the second quarter of the year and this bridge is among the news listed where Ethereum developers can also operate on MINA.
In addition, the roadmap of their site states that “Ethereum developers provide for the Mina platform in the EVM”.
With the upcoming news, we can understand that they have created a roadmap focused on improving the ecosystem infrastructure.
So, from a technical point of view, where are the regions where buyers and sellers are dominant? Which regions are important?
In the daily chart you see above, we can observe that there has been stable price movements within the falling channel since November 12.
As a bad scenario, if the direction of the market continues in the falling trend and a pullback occurs on the Bitcoin side, both the lower support and the support point of the falling channel structure on the MINA side can be seen. Possible pullback support points are at $2.15 and $1.7.
On the good scenario side; In case of breaking the falling channel structure with a voluminous buyer candle and turning the trend upwards, the upper possible resistance levels can be targeted with daily closings above the $3.38 and $3.7 band gap.
Also; The direction of MACD moving averages is downwards and light green signal bars are observed on the line of the histogram. This shows that the momentum is positive but weak.
As a final evaluation; We can see positive effects for the MINA Protocol, which has news in many fundamental senses during the year, with its support with technical data.