DeFi -Decentralized Finance on dark blue abstract polygonal background. Concept of blockchain, decentralized financial system.
Today’s Mirror Protocol price surge of 3 per cent will mark the third consecutive day that prices are rising in the markets. In addition, the prices have also closed the markets bullish in 7 of the last eight days. This latest strong and aggressive bullish move has seen Mirror Protocol’s price rise by 18 per cent to its current price of $0.193 at press time.
Mirror Protocol has not made headlines that can impact its current bullish movement for a while now, and chances are, you are wondering why the prices are suddenly surging. Unsurprisingly, the current surge in Mirror Procol price surge has less to do with what is happening to the crypto and more to do with the cryptocurrency industry.
Since May, the cryptocurrency industry has been in an aggressive bear market, which has seen almost all major cryptocurrencies drop in price. In addition, other altcoins have felt the impact of the bear market following the trend of the major cryptocurrencies, to which they are positively correlated.
However, in the past few days, the trend has started to reverse. The entire cryptocurrency is now in an aggressive push to the upside. Bitcoin, one of the largest cryptocurrencies, for instance, is up by 18 per cent in the past seven days. In addition, the latest resurgence of the industry has seen other altcoins, including the Mirror Protocol price, surging.
Looking at the chart below, the prices are in an aggressive trend, recording a bullish session finish in 7 of the last eight days. Today, with prices already up by 3 per cent, it looks likely that the surge will continue throughout the session.
Therefore, my Mirror Protocol price prediction expects the prices to continue rising for the next few trading sessions. The prices will hit the $0.20 resistance level in the next few sessions. There is also a high likelihood that we will see prices trading above the $0.25 price level. My analysis will only be invalidated by prices retreating and trading below the $0.15 support level.
This post was last modified on Jul 20, 2022, 10:17 BST 10:17