Top Reasons Why the BitMine Stock Price Crash May Continue
The BitMine stock price has crashed in the past few months in a major setback for Tom Lee, one of the top analysts in the stock and crypto markets.
BMNR was trading at $39, down by over 70% from its highest level this year. This article explores the three main reasons why the stock has more downside i. Tu near term.
BitMine Stock Has Weak Technicals
The first main reason why the BMNR stock price has more downside to go is that it has weak technicals. For example, the daily timeframe chart shows that it recently moved below the 50-day Exponential Moving Average (EMA), a sign that bears are in control.
BitMine has also moved below the lower side of the symmetrical triangle, which forms part of…
