Technical analysis by fahad924 about Symbol MINA: Buy recommendation (1/31/2025)

Price Analysis: Current price is 0.4640 USDT with a 4.19% drop in the last candle. The chart shows a long-term bearish trend followed by a potential accumulation phase. Important support and resistance levels are identified at 0.3688 USDT (support), 1.1621 USDT, and 1.5873 USDT (resistance). A future price forecast is drawn indicating a possible bullish breakout beyond 5 USDT. Accumulation phases according to Wyckoff methodology: The chart follows Wyckoff's accumulation model, with key phases indicated: SC (Selling Climax): Initial sharp decline leading to accumulation. AR (Automatic Rally) & CHoCH (Change of Character): Signals of a trend change. LH Broken (Breakthrough of the Bearish High): Early signal of a bullish move. 2nd Test (Second Test): Testing support again before a possible breakout Bullish. Volume Analysis: The volume chart below shows significant spikes in volume, indicating strong interest at certain levels. The volume moving average (Volume MA) is 89.42 million, while the current volume is 53.24 million, indicating moderate trading activity. Future Outlook: The green path in the chart predicts a potential bullish breakout that could take the price above 5 USDT in the long term. Conclusion: The analysis suggests that MINA could be in a consolidation phase, which could pave the way for a bullish breakout if the price can settle above key resistance levels. Investors who rely on the Wyckoff methodology may consider this a potential long-term buying opportunity.