Technical analysis by solinash1 about Symbol MINA on 3/9/2024

🍣📈Weekly Channel Breakout and Retest:MINA previously broke out of its weekly channel and reached its target successfully.The recent breakdown below the channel indicates a loss of bullish momentum and potential for a retracement.🔍📉Corrective Phase and Resistance Levels:If MINA undergoes a correction, it is likely to retrace upwards until reaching its weekly resistance level.A rejection at this resistance level, coinciding with the RSI reaching the daily blue resistance line, could present a selling opportunity.🚫Early Sell Setup and Risk Management:A sell position could be initiated early at the current price level (below the lower channel line) using the red trigger line as confirmation.Trailing the stop-loss to the lower support zone can help mitigate risk and maximize profit potential.✅Important Considerations✅The overall market trend should be taken into account before executing any trades.Confirming the reversal with additional technical indicators and market sentiment analysis is essential.🚫This analysis is for educational purposes only and should not be construed as financial advice. Always conduct your own research and employ sound risk management practices before trading.🚫