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Technical Analysis: MINA Monday’s Big Gainer, CRO Lower Despite Crypto.com’s LeBron Ad

Technical Analysis: MINA Monday’s Big Gainer, CRO Lower Despite Crypto.com's LeBron Ad

In what has been a volatile day of trading, MINA is one of the biggest gainers in crypto to start the week. In addition to this, crypto.com coin (CRO) was in the red, despite pulling out all the stops in a Super Bowl ad that featured LeBron James.

Biggest gainers

A week to the day, SHIB was the biggest gainer in the crypto top 100, climbing by as much as 50% in the process, although, today’s bull has risen by less than 10%.

Crypto markets have been lower in recent days, and this volatility was present in today’s session, however, mina protocol (MINA) managed to surge despite this.

MINA/USD, which was trading at a low of $2.30 on Sunday, climbed to an intraday high of $2.73 earlier today.

Today’s move came as the price of MINA rallied from support of $2.30, all the way towards resistance of $2.80.

However, as prices moved towards the recent ceiling, another obstacle prevented the move from rising any further.

This came in the form of the 14-day RSI, which hit the 46 level, which has acted as a resistance point in the past.

Despite this, many traders of MINA remain optimistic that a breakout could soon be on the cards.

Biggest losers

Aside from the coinbase ad during yesterday’s Super Bowl, the crypto.com segment which featured LeBron James, was undoubtedly the second most discussed.

Despite this, crypto.com coin (CRO) was in the red to start the week, as it has been unable to capitalize on its increased viewership.

The price of CRO/USD, which hit a high of $0.5173 yesterday, fell to an intraday low of $0.473 on Monday, as markets seem to have found a short-term floor.

This support level which stands at $0.4709, has been in place since February 5, following a 5-day bull run, which ended in consolidation.

Historically, the current level has birthed some significant bullish pressure, as seen during the run on December 20, however, these bulls will only likely return should the upcoming resistance at $0.5312 be broken.

Will we see more crypto traders enter the market following yesterday’s adverts? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/EJH9oZW
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