Mirror Protocol (MIR) Price Prediction 2023 — Will MIR Hit $0.5 Soon?
- Bullish MIR price prediction is $0.3274 to $2.7764.
- Mirror Protocol (MIR) price might also reach $0.5 soon.
- Bearish MIR price prediction for 2023 is $0.0888.
In Mirror Protocol (MIR) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about MIR to analyze the future movement of the cryptocurrency.
Mirror Protocol (MIR) Current Market Status
| Current Price | $0.155232 |
| 24 – hour trading volume | $52,836,784 |
| 24 – hour price change | 27.2% up |
| Circulating supply | 156,055,246 |
| All – Time High | $12.90 (On April 10, 2021) |
What is Mirror Protocol (MIR)?
A DeFi protocol called Mirror is powered on Terra’s smart contracts. It enables the creation of artificial assets referred to as Mirror Assets (mAssets). The governance token for the Mirror Protocol is called Mirror Token (MIR). It serves as a deposit for starting new governance polls as well as for staking and voting on current polls. It will do additional tasks in later iterations of Mirror to increase the utility and usability of the protocol.
Mirror Protocol (MIR) Price Prediction 2023
Mirror Protocol (MIR) holds the 547th position on CoinGecko right now. MIR price prediction 2023 is explained below with a daily time frame.
The above chart of Mirror Protocol (MIR) laid out the Descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form within longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
Currently, Mirror Protocol (MIR) is in the range of $0.155232. If the pattern continues, the price of MIR might reach the resistance levels of $0.2983, $0.4220 and $0.5894. If the trend reverses, then the price of MIR may fall to $0.1535 and $0.0876.
Mirror Protocol (MIR) Support and Resistance Levels
The chart below shows the support and resistance levels of Mirror Protocol (MIR).
MIR /USDT Support and Resistance Levels (Source: Tradingview)
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Mirror Protocol (MIR).
| Resistance Level 1 | $0.3264 |
| Resistance Level 2 | $0.9616 |
| Resistance Level 3 | $2.7764 |
| Support Level | $0.0888 |
The charts show that Mirror Protocol (MIR) has performed a bullish trend over the past month. If this trend continues, MIR might run along with the bulls overtaking its resistance level at $2.7764.
Accordingly, if the investors turn against crypto, the price of Mirror Protocol (MIR) might plummet to almost $0.0888, a bearish signal.
Mirror Protocol (MIR) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Mirror Protocol (MIR) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of MIR lies above the cutoff line, indicating strong participants in the current trend.
Also, the Moving Average (MA) of Mirror Protocol (MIR) is shown in the chart above. Notably, Mirror Protocol (MIR) price lies above 50 MA (short-term), so it is in an uptrend. Currently, MIR has entered a bullish state. Therefore, there is a possibility of a reversal trend of MIR at any time.
Meanwhile, the relative strength index (RSI) of the MIR is 49.38. This means that Mirror Protocol (MIR) is in an nealy oversold state. However, this means a major price reversal of MIR may occur in the upcoming days. So, traders need to trade carefully.
Mirror Protocol (MIR) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Mirror Protocol (MIR). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Mirror Protocol (MIR). Currently, the ADX of MIR lies in the range of 48.7882 and thus, it indicates a very strong trend.
The above chart also represents the Relative Volatility Index (RVI) of Mirror Protocol (MIR). RVI measures the constant deviation of price changes over a period of time. The RVI of MIR lies below 50, indicating low volatility. In fact, the RSI of Mirror Protocol (MIR) is at 49.38thus confirming a potential sell signal.
Comparison of MIR with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and Mirror Protocol (MIR).
Mirror Protocol (MIR) Price Prediction 2024
If the declining price action completely slows down in momentum and the trend reverses, Mirror Protocol (MIR) might probably attain $1 by 2024.
Mirror Protocol (MIR) Price Prediction 2025
With several upgrades in the network, Mirror Protocol (MIR) might enter a bullish trajectory. If the coin grabs the attention of major investors, MIR might rally to hit $3 by 2025.
Mirror Protocol (MIR) Price Prediction 2026
If Mirror Protocol (MIR) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, MIR would rally to hit $5.
Mirror Protocol (MIR) Price Prediction 2027
If Mirror Protocol (MIR) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, MIR would rally to hit $7.
Mirror Protocol (MIR) Price Prediction 2028
If Mirror Protocol (MIR) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, MIR would rally to hit $9.
Mirror Protocol (MIR) Price Prediction 2029
If Mirror Protocol (MIR) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, MIR would hit $11 in 2029.
Mirror Protocol (MIR) Price Prediction 2030
If investors flock in and continue to place their bets on Mirror Protocol (MIR), it would witness major spikes. MIR might hit $13 by 2030.
Conclusion
With continuous improvements in the Mirror Protocol network, we can say that 2023 is a good year for MIR. For this reason, the bullish price prediction of Mirror Protocol (MIR) in 2023 is $2.7764. On the other hand, the bearish price prediction of Mirror Protocol (MIR) price prediction for 2023 is $0.0888.
Furthermore, with the advancements and upgrades to the Mirror Protocol ecosystem, the performance of MIR would help to reach above its current all-time high (ATH) of $12.90 very soon. But, it might also reach $0.5 if the investors believe that MIR is a good investment in 2023.
FAQ
Mirror Protocol (MIR) is the governance token for the Terra blockchain-based Mirror System, a protocol for synthetic assets created by Terraform Labs (TFL).
Mirror Protocol(MIR) (MIR) has been listed on many crypto exchanges which include Binance, KuCoin, Gate.io, Coinbase Exchange, WhiteBIT and OKX.
With the ongoing developments and upgrades within the Mirror Protocol platform, MIR has a high possibility of reaching its ATH soon.
On April 10, 2021 Mirror Protocol (MIR) reached its new all-time high (ATH) of $12.90.
Mirror Protocol (MIR) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Mirror Protocol in the past few months, MIR is considered a good investment in 2023.
Mirror Protocol (MIR) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Mirror Protocol (MIR) will hit $0.5 soon.
Mirror Protocol (MIR) price is expected to reach $1 by 2024.
Mirror Protocol (MIR) price is expected to reach $3 by 2025.
Mirror Protocol (MIR) price is expected to reach $5 by 2026
Mirror Protocol (MIR) price is expected to reach $7 by 2027.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/mirror-protocol-mir-price-prediction-2022-will-mir-hit-3-soon/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
