Bearish Trend and Potential Support Levels

MINA has exhibited a bearish medium-term trend after repeatedly encountering resistance between the price range of $0.87 and $0.93. Over the course of nearly a month, it has maintained a price range of $0.55. However, in recent times, the downward trajectory has persisted, leading to a return to the support range of $0.50. Selling pressure remains substantial, heightening the possibility of reaching an all-time low (ATL) support level within the range of $0.44 to $0.40.

When examining the currency's daily timeframe, the trend is downward, having recently broken out of a range channel. Consequently, the lower limit of the broken channel, situated at $0.53, serves as a significant resistance level in the daily timeframe. Simultaneously, considering the prevailing selling pressure in the medium term, a positive response to the established support may increase the likelihood of establishing a wide-ranging trend based on the ATL support. Given favorable market conditions, these levels can be deemed areas of strong demand in the medium term, with the price targets falling within the range of $1.