- Crypto trader Mac gives an update on his previous analysis on MINA.
- The altcoin’s price rose more than 9% in the last 24 hours.
- Technical indicators suggest that MINA’s price will drop in the coming 24 hours.
The crypto trader, Mac tweeted an update today regarding a technical analysis he did on Mina (MINA) on 31 January, 2023. In his previous analysis of the altcoin, Mac mentioned that MINA had reclaimed the 1-day trend and added that the altcoin’s price should fill the $1.2 monthly gap in the weeks that would follow if Bitcoin (BTC) does not rug.
Today’s tweet revisited the analysis performed last month, to share that the more than 60% gap was filled by the altcoin as the trader had forecasted.
This comes after the crypto market leader pumped more than 10% over the last 24 hours according to CoinMarketCap. At press time, BTC’s price is trading above the major $24k price level.
Meanwhile, MINA’s price jumped 9.97% over the last 24 hours as well. As a result, the altcoin’s price is trading at $1.14 at press time.
The price of MINA has printed higher lows and higher highs on its daily chart over the last week. As a result, the altcoin’s price is trading above the 9-day and 20-day EMA lines at press time.
The daily RSI indicator, however, suggests that MINA’s price will drop in the coming 24-48 hours given that the daily RSI line has recently crossed bearishly below the RSI SMA line.
Traders will want to keep an eye on the support level at $1.140, which MINA’s price is currently resting on at press time, as a drop below this level will result in MINA’s price dropping to the next support at $1.040.
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