The Mina price has surged in the past three days, increasing by 27 per cent on its value. This increase is expected to continue as the cryptocurrency gains traction and investments. The latest news cycle has also been very positive for Mina. This includes the latest announcement that the platform will be receiving a $92 million investment to finance its advanced lightweight blockchain. In addition, the investment will go towards the recruitment of new talent through grants. This will help the company achieve its goal of making Web3 infrastructure more secure and democratic.
Mina’s price has been on a long-term bullish trend for more than a week. However, in the past three days, the cryptocurrency has risen by 27 per cent. Today is also the third consecutive day that has seen Mina’s price gaining in the market. Since March 15, the prices have also risen by 70 per cent, and today Mina is trading at $2.65.
Looking at the daily chart below, we can see the prices trading within support and resistance levels of $1.58 and 3.18. We can also see the current price is a recent bounce from the support level. With this in mind, my Mina price prediction is it will be trading at above $3.19 resistance level in the next few days.
This is because I expect the prices to continue with the current bullish move to retest the resistance level. The reason why my analysis has the cryptocurrency above the resistance level is because of the current volatility. For instance, yesterday’s trading session saw the prices rise by 18 per cent. Today’s trading session also has the prices up by 4 per cent and is likely to continue rising.
After raising the capital, the platform also indicated that they would be focusing on getting world-class developers on their team. They also indicated they had a goal of advancing the design and development of the Mina protocol, and the $92 million raised will go a long way in achieving this goal.
This post was last modified on %s = human-readable time difference 09:27