The Mina price has followed BTC’s positive tendency trajectory since mid-January 2023. After attaining weekly profits of 35%, the crypto token jumped by another 8.71 percent at the time of writing.
After opening 2023 at a sub $0.50 level, Mina has been steadily climbing the charts. The increase was linear at the beginning, but the bulls took control of the market in the last days of January 2023, leading to double-digit profits over the previous week. Will Mina maintain the same momentum in the days to come, or can potentially we likewise for another disappointing year?
Mina Price Analysis for 2022 and January 2023
The Mina price was currently worth over $3 levels at the beginning of 2022. Several stumbles happened soon after, but it was in response to market movements. Those falls didn’t matter because Mina rebounded to over $3 in early April 2022.
On the other hand, the retrace proved to be more powerful than the fall, for it was around the same time as the Terra (LUNA) collapse. The token’s value dropped to a sub-dollar level, which was lower than its 2021 bottom Line. And from that point forth, the crypto token started trending sideways.
The accumulation period lasted for 231 days with minor supports and resistances until January arrived.
Mina entered January 2023 as a sub-dollar cryptocurrency having a price of $0.43. On the other hand, the crypto token started to take a slight upward movement after 10th January. New support and resistance started to form, but the community paid no mind since the project hasn’t the most fashionable in the market.
On the other hand, a major push to Bitcoin (BTC) that pumped its price over $22.5k past week restored people’s faith in crypto altcoins – Mina included. And thus, it witnessed its 1st parabolic jump of this year and pushed past $0.70. A short retrace thereafter, bulls started watching Bitcoin (BTC) as it blew past its $23k resistance. That instance motivated a buying frenzy which led to 35 percent weekly gains.
And at the time of publication, Mina is currently worth $0.90. It is getting closer to its $1 mark – which is increasingly becoming a possibility as Bitcoin (BTC) is showing no indications of slowing down.
Mina Price Prediction for 2023 – Technical Analysis of This Token
The weekly trading chart shows a slant double bottom pattern. In technical terms, it is referred to as a positive tendency reversal pattern, which means the crypto token may reverse in a positive tendency direction, which has exactly how this crypto token has performed.
On the other hand, how long would this pattern hold up? For that information, we have to follow the market trends a bit longer. On the other hand, for now, the crypto token has been showing all the cautiously positive signs in the price charts.
The crypto token has been moving well over its 59-day moving average since the middle of January 2023. And getting a current RSI of 70.52 puts it well into the oversold zone. Minor falls in prices are still happening, but they are often followed by a quick rebound, meaning that bulls are putting their all into ensuring that this crypto token reaches that $1 mark.
Seeing as the present price trajectory that Mina is following, the resistance of $0.98 can be reached at any time. Once it does, we can see further positive tendency resurgence leading to the crypto token crossing the $1.5 mark. Nonetheless, if the crypto token fails to do so and falls below its current support of $0.844, further retrace right occur.
That being stated, the chances of the latter happening are less likely as the bulls are as of now winning the market. And much of Mina’s price is hinging on how Bitcoin (BTC) performs in February 2023.
Why is Mina Rising?
Mina’s price increase is the same reason as every other altcoin’s – BTC’s positive tendency momentum. The world’s largest digital currency has gathered numerous bulls since the middle of January 2023 and has left behind its late 2022 lows.
BTC’s recovery has led other digital currencies to grow alongside it. Nonetheless, a closer inspection shows that can potentially not be the only reason.
Mina is the world’s lightest crypto token and has been long considered an undervalued investment owing to its utility. And the past few surge owing to BTC’s momentum has put a spotlight on some of Mina’s own accomplishments.
Mina recently introduced a 3- 30 days program to assist developers and entrepreneurs with the zkApps and tools on the Mina protocol. The program likewise announced financing of up to $500k USDT and 500k MINA for those projects.
1/ 📢 Introducing zkIgnite, Cohort 1 ⚡️
This 3- 30 days program aims to facilitate the most ambitious developers and entrepreneurs building zkApps and tooling on Mina Protocol.
$500K USDC and 500K MINA is available in financing for top projects 💰
Learn more: https://t.co/W9N0DTttgm pic.twitter.com/25cL7bh3gF
— Mina Protocol 🪶 (@MinaProtocol) January 17, 2023
It is well-known as zkignite, Cohort 1 Program, and is the largest financing round Mina has organized. The program comprises weekly gatherings and challenges, including:
The aim here is to arm developers with the knowledge necessary to leverage Mina protocols to develop zkApps and create a business out of it. These challenges will attract innovative Web 3 projects to light, enhancing the appeal of Web 3 to the mainstream. Full details about the program are available here.
What is Mina?
Mina protocol is a lightweight blockchain tech designed to lower the computational requirements to run decentralized applications. The project intends to make dApp development efficient, quick, and scalable.
Owing to this minimalistic approach, cryptocurrency enthusiasts and the devs on Mina call the Mina protocol a “succinct” blockchain tech. The native payment system Mina has envisioned will allow developers to verify the platform from the first- genesis block.
Mina accomplishes this by using Zero-knowledge Succinct, Non-Interactive Arguments of Knowledge (zk-SNARKS). It is a cryptographic way of approving information without revealing it. On the other hand, since Mina requires users to verify the platform from the very 1st block, zk-SNARKS is implemented incrementally in the final few blocks.
Mina completes these complex tasks with the help of its native crypto token known as MINA. It is utility cryptocurrency and a medium of exchange.
Mina Protocol is Evolving Perpetually
Even in the bearish conditions of 2022, Mina was able to expand. The ecological system now has 145 active developers. The most recent tweet shows an excerpt from its Transparency Annual Report, 2022, stating that there are now over 135k on-chain accounts, 4,500 GitHub commits, and MIP#1 vote.
And since the project intends to motivate dApp developers, it has announced 16M crypto tokens in grants so far.
You can check out more details about the Mina protocol in Jacob Cryptocurrency Bury’s price forecast video.
Is Meta Masters Guild Better Alternative to Mina Protocol
The coming of 2023 has pushed the entire cryptocurrency space into the positive tendency zones that, so far, aren’t showing any indications of closing down.
On the other hand, that’s not the time to get comfortable since even the positive tendency scenarios get overturned by one mishap. Furthermore, the as of now traded crypto tokens won’t give people parabolic returns as they did in the 2021 bull runs.
This is why, better financing options lie in cryptocurrency ICOs, presales, and IEOs. They give an opportunity to move in early and attract substantial profits through their potential upsides.
1 such digital currency is Meta Masters Guild.
Meta Masters Guild – A Fun-Centric P2E Project
Meta Masters Guild is the world’s 1st decentralized Web 3 gaming guild that intends to increase the cryptocurrency gaming adoption price by using “fun” as a strategic element.
The project has realistic expectations. It understands that to be able to entice more non- cryptocurrency gamers to blockchain tech gaming and sustain the GameFi economy, fun is the essential element.
That will attract players that are more interested in gameplay than earning – a move that will assist maintain Meta Master’s economy.
Those factors have turned this cryptocurrency into a presale success. During a short few weeks, the crypto token has raised upwards of $2.4 Million crypto tokens. The hard cap is placed at $4.97 Million – which is now getting closer since four of the 7 presale stages are next to getting cleared.
Those interested in taking part in this presale can go to the official website, connect their wallets, and buy the crypto tokens at a discount price of 0.016 USDT. The end of the present stage of presale will increase the price of the crypto token to 0.019 USDT.
Meta Masters’ realistic and accessible approach to P2E gaming makes it plausible that it will follow through with its roadmap. It is not showing big dreams but legitimate potential upsides that we can all get behind.
And, if you are still on the fence, you better hurry and take part in the presale before the crypto token ends up on digital currency exchanges.