Mirror Protocol’s Price Await for 20% Upswing

Key Takeaways:

• The MIR price closed the previous day’s trade at $1.605 with a market capitalization of $125.32 million and a circulating supply of 77,742,679.93 MIR
• The asset since the beginning of the month flipped the descending trend and attempted hard to keep up the newly formed bullish trend
• Despite a 100% jump from the lows, the asset needs to still be really close to 50% to validate a strong uptrend without fear of a pullback or correction

Mirror ProtocolPrice Analysis: How High Will Mirror ProtocolCrypto Price Go in March 2022?

Mirror Protocol had slid below $1 during the last couple of days in February, from where the asset ignited a strong flip. The asset recorded constant higher highs and lows, maintaining a decent uptrend. However, currently, after shedding nearly 35% of the value, the price is awaiting a large push as the volume has depleted largely.

With a slight diversion from the current chopping trend, the asset is expected to reverse the trend and quickly range towards $2. To end the monthly trade, the MIR price may attempt hard to seal the levels above $2.7 slicing through the immediate resistance around $2.5. If in case the bears gain back the control then the asset may slide down but firmly stand above $1. 

Mirror ProtocolPrice Prediction: Will Mirror ProtocolPrice Hit $10 in 2022?

MIR price ever since the MAY crash dropped heavily and failed to sustain at each support until the recent flip. The platform received a massive influx of volume during the first few days of March and since then the price appears pretty bullish. Currently, the volume has dropped drastically and hence an acute change in the trend may not be expected. 

Yet in the upcoming months, if the asset stabilizes a strong uptrend, then by the end of Q2, the levels around $4.5 to $5 may be expected. Further, including a couple of pullbacks and corrections, the MIR price could attempt to crack the next resistance at $8. Later $10 may not be distant, but the bears may constantly try to restrict the price below $7, and hence by the end of 2022, the MIR price may hover below $10. 

Additional Read: What is Mirror Protocol (MIR)?

Mirror ProtocolPrice Analysis: Mirror ProtocolPrice Table (Last 07 Days) 

Mirror ProtocolPrice Prediction: Mirror ProtocolPrice Trend Comparison with LUNA  (Last 30 Days)

Source: Tradingview

Mirror Protocol and Terra(LUNA) both are deployed on the Terra Blockchain. While MIR is the governance token of Mirror Protocol, LUNA is the native token of the Terra platform. LUNA maintained an extensive bullish trend with huge strength since the beginning of the year but currently, with the beginning of March trade, MIR manifested huge strength. 

Despite a strong uptrend, the MIR price trend yet again witnessed a steep fall along with the LUNA price trend. Currently, LUNA maintains a decent upper hand compared to that of MIR. The LUNA price is around 79.8% above the average levels while MIR is also above 35.53% after plunging from around 90%. 

Correlation of MIR/USDT and MIR/BTC (Last 30 Days)

Source: Tradingview

MIR/USDT & MIR/BTC both appear to have trending within the same margin with slight variations. Currently, the USDT maintains a decent upper-hand compared to the BTC pair, but the latter showcases signs of the uptrend that is missing with USDT. Therefore, a strong trend reversal may be expected very soon.

At the press time, the MIR/USDT pair is above the average levels by nearly 35.53% whereas the BTC pair is above by 26.47%. As the BTC pair is preparing to move towards the north a strong upward momentum can be expected very soon. 

Additional Read: Top Crypto News Today, 21 March 2022.

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