$MINA is down nearly 30% in 24 hours, and at 0.11261 it’s just a whisker above the low of 0.11219. Trading volume of 52M isn’t small, which shows there are buyers stepping in, but they’re doing so hesitantly.
The key signal isn’t on the candlestick chart—it’s in the order book depth. I just took a quick look: buy and sell orders between 0.113 and 0.115 are pitifully thin, as if the book had been cleared out. Meanwhile, there’s a dense cluster of buy orders around 0.112, a classic defensive stance.
There are two possibilities: either the project team or a large holder is accumulating at low prices while supporting the floor, or someone is deliberately thinning out the order book to lure shorts into adding positions ahead of another squeeze. Judging by the funding rate, shorts have already started paying, and things are getting a bit crowded.
Personally, I lean toward the first possibility—accumulation. This drop in $MINA was too sharp. It plunged without any divergence between price and volume, which looks more like a liquidation cascade than a fundamentals-driven collapse.
Keep a close eye on 0.112. If the bids there give way, it’s a vacuum zone below. If they hold, there could be a substantial rebound…
If BTC keeps moving sideways, $MINA will be the best hunting ground around.
The key signal isn’t on the candlestick chart—it’s in the order book depth. I just took a quick look: buy and sell orders between 0.113 and 0.115 are pitifully thin, as if the book had been cleared out. Meanwhile, there’s a dense cluster of buy orders around 0.112, a classic defensive stance.
There are two possibilities: either the project team or a large holder is accumulating at low prices while supporting the floor, or someone is deliberately thinning out the order book to lure shorts into adding positions ahead of another squeeze. Judging by the funding rate, shorts have already started paying, and things are getting a bit crowded.
Personally, I lean toward the first possibility—accumulation. This drop in $MINA was too sharp. It plunged without any divergence between price and volume, which looks more like a liquidation cascade than a fundamentals-driven collapse.
Keep a close eye on 0.112. If the bids there give way, it’s a vacuum zone below. If they hold, there could be a substantial rebound…
If BTC keeps moving sideways, $MINA will be the best hunting ground around.