$MINA /USDT Bearish Continuation Scenario on the 30-Minute Chart
MINA is currently trading around $0.0788 following a significant sell off from the $0.0840 area. Although price has entered a consolidation phase, the chart has yet to show a convincing recovery that would invalidate the broader bearish structure.
The repeated fluctuations around the $0.0780–$0.0800 region suggest that the market is still searching for direction after the initial decline.
The main area to watch is the supply zone between approximately $0.0826 and $0.0837. This zone represents a potential resistance area where sellers could regain control if price retraces upward. My projected scenario is a move toward this region, followed by a rejection and renewed downside pressure. If that reaction occurs, the recent lows around $0.0750–$0.0760 become important downside reference levels.
However, the bearish outlook depends on price respecting the supply zone. If MINA breaks above the zone and holds there, the projected continuation lower would become less convincing. Until that happens, I will be watching for a clear rejection rather than assuming the next move is guaranteed.
This is a technical market scenario, not a certainty. Manage risk carefully and wait for confirmation before making any trading decision.
MINA is currently trading around $0.0788 following a significant sell off from the $0.0840 area. Although price has entered a consolidation phase, the chart has yet to show a convincing recovery that would invalidate the broader bearish structure.
The repeated fluctuations around the $0.0780–$0.0800 region suggest that the market is still searching for direction after the initial decline.
The main area to watch is the supply zone between approximately $0.0826 and $0.0837. This zone represents a potential resistance area where sellers could regain control if price retraces upward. My projected scenario is a move toward this region, followed by a rejection and renewed downside pressure. If that reaction occurs, the recent lows around $0.0750–$0.0760 become important downside reference levels.
However, the bearish outlook depends on price respecting the supply zone. If MINA breaks above the zone and holds there, the projected continuation lower would become less convincing. Until that happens, I will be watching for a clear rejection rather than assuming the next move is guaranteed.
This is a technical market scenario, not a certainty. Manage risk carefully and wait for confirmation before making any trading decision.