Minu Price Prediction: MINU Plunges 7% As Investors Pivot To This P2E DOGE Derivative For Parabolic Gains

Minu Price Declines 7%, But Indicators Suggest Recovery May Be Imminent

In the past 24 hours, the price of Minu has plunged over 7%, falling to $0.0000004177 as of midnight EST. This sell-off stems from investors realizing profits following the meme coin's strong performance over the past week.

Minu Price Tests Critical Support

Currently, Minu rests on key support at $0.0000004259. A breach below this level could lead to a further drop towards $0.0000003912. Continued selling pressure may even push MINU down to $0.0000003470 in the short term.

However, if Minu maintains its position above $0.0000004259 for the next 12 hours, the bearish thesis may be invalidated. Traders may consider entering long positions in such a scenario, potentially propelling the meme coin towards the $0.0000004859 resistance level.

Technical Analysis Points to Potential Bullish Reversal

Technical indicators on MINU's 4-hour chart indicate that bullish momentum has weakened, but suggest that there is still room for buyers to prevent a major correction. The Relative Strength Index (RSI) has begun to show positive signs again, rising above the 50 benchmark, indicating that buyers retain the upper hand. Additionally, the RSI line has started to slope upwards, potentially signaling a resurgence of bullish strength.

The Moving Average Convergence Divergence (MACD) line has recently crossed below the MACD Signal line, reflecting the current negative cycle. However, the leveling off of the MACD Histogram suggests that MINU's negative momentum is easing.

If these technical signs hold true, Minu's price may attempt to turn the $0.0000004859 resistance level into support. A positive turn in the MACD Histogram within the next 8 hours could provide early confirmation of this potential move. Additionally, preventing a 4-hour candle close below $0.0000004259 in the next 12 hours may also be seen as a potential long entry opportunity.

Disclaimer: This article contains promotional material. Please conduct thorough research before investing in any cryptocurrency.