Is Mina Protocol Going to Zero? MINA Price Falls 5% as New Mining Project Hits $7.5 Million
Leading zero-knowledge blockchain Mina Protocol is experiencing a drop in price as it faces resistance at a local high. This decline follows a week-long pump that saw MINA price rise by 120%. The decrease in price is attributed to a large amount of MINA supply being locked into staking, resulting in a limited circulating supply. Currently, MINA is trading at $1.18 with a 24-hour change of -8.88%. The price rejection at the local high of $1.69 on January 2 has led to a decrease of 29.27% in MINA price this week.
The MINA price is expected to find support at the 20DMA level, with potential bounce opportunities between $1.16 and $1.20. Lower support levels can be found at $1.07 and $0.97, while the 200DMA sits at $0.50. The RSI and MACD indicators suggest that a bounce may occur soon.
MINA Price Drop Alternative? Don’t Miss Bitcoin Minetrix $BTCMTX Presale As $7.57M Raised
Bitcoin Minetrix offers an alternative to the MINA price drop, providing an opportunity for retail investors to participate in Bitcoin mining through its stake-to-mine system. With over $7.5 million raised in its presale, Bitcoin Minetrix operates on the Ethereum blockchain, ensuring security and decentralization. It aims to tap into the upcoming Bitcoin halving event, which historically has driven up Bitcoin’s value. The ongoing BTCMTX presale offers early investors a chance to be part of this innovative mining project at a competitive price of $0.0126 per token.
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