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Does the Mina course follow Solana and multiply a hundredfold?



Mina has a few things in common with Solana, especially when it comes to the role they are both trying to fill. Will the Mina course develop like Solana?


Mina is currently ranked 87th with a market capitalization of around USD 1.3 billion

For comparison: Solana is currently in 5th place with around 67 billion USD. Both blockchains are based on proof-of-stake and serve the narrative of the “ Ethereum Killer”, whereby Solana is much closer to having almost achieved this goal. Can the Mina course really develop like Solana's course?


Mina price trend bearish in the short term

After Mina was listed, the Mina course experienced a drop in price from around 19 USD to around 1 USD. In the short term, the Mina price hit an all-time low of 0.92 USD and since then, Mina has been in a strong upward trend. Most recently, Mina hit around USD 6.5 a second time, but couldn't top that high. December started bearishly for the Mina course and should Mina initiate a correction, Mina could bounce off the golden ratio at around USD 3.


Solana course at the beginning after listing compared

When Solana was listed on FTX in April 2020, the Solana price initially corrected to around USD 0.5 for two months. This was followed by three bullish months for the Solana price, which culminated in a peak of around USD 4.5. Thereupon the Solana course corrected very strongly, broke all Fibonacci supports on the way down and finally reached around 1 USD in December 2020. This should be the last time that the Solana course is found this low. Since then, the Solana price has increased by a factor of 260. That means an investment of USD 1,000 at the monthly low in December 2020 was worth around USD 260,000 at the all-time high this year.


In the weekly rate it becomes clear: Mina rate cannot overcome resistance at USD 6.5

In the weekly rate it becomes clear that Mina cannot move above the ATH at around 6.5 USD, since the Mina rate is met with strong rejection there. However, at around USD 3, strong support awaits the Mina rate, and should it behave similarly to Solana, this could be your last chance to see a single digit Mina rate. Should Mina break below the golden ratio, however, he will find historical support at around USD 1 at the latest.


Against Bitcoin, there was a rejection at the 0.382 Fib level

Against Bitcoin , the Mina price was rejected for the second time at the 0.382 Fib resistance at around 0.000093 BTC. The Mina price has now fallen below the 50-day EMA, which means that it does not seem to serve as a support again. However, as before, Mina could catch herself briefly below in order to stay above the 50-day EMA. Otherwise it will find support at around 0.00072 BTC.


Summary: Can the Mina course mimic the Solana course?

Overall, it can be said that Mina has the chance to achieve a similarly high market capitalization as Solana, which, however, would only be possible to increase by a factor of 51.5 from the current point in time. However, this would also be a price increase by a factor of 240 if you consider it from Mina's price low of USD 0.92. At the absolute high point of Solana it would even be a price development by a factor of 280. The fact that it behaves in such a similar way is due to the very similar circulating circulation of Mina and Solana tokens and the fact that both have experienced a similar low point. So if Mina turns out to be technically equal or superior, there is no doubt that Mina's course could develop very similarly.

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