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In MINA, a channel breakout could help the recovery rally

Within the falling parallel channel pattern, the MINA price has gradually decreased over the last three months as the reports data shows. On March 13th, the downtrend made its most recent lower low at $1.6. However, the altcoin began to rise again as bullish momentum increased, and it breached the pattern’s resistance trend line.

Also, The MINA price was returned for a three-day retest phase by the joint resistance of $2.2 and the 50-day SMA. So, The post-retest surge, on the other hand, has continued to rise, and it is now up by 20%, having broken through the $2.6 resistance.

Source : TradingView

Additionally, The larger price rejection at this barrier, on the other hand, weakened the purchasing pressure, threatening a correction. To see whether there is enough demand, the little decline could retest the $2.25 and 50 DMA.

Moreso, The divergence between the VI+ and VI- slopes following a bullish crossover illustrates the strong bullish momentum.

Additionally, The recovery rally sent the MANA price above the dynamic barrier of the 50-day SMA. However, before the bull takes over, the predicted decline could retest the 50 SMA at $3.6.

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