Mirror Protocol Spikes 173% in Final Week of 2020

• Cryptocurrency prices drifted downwards on the final week of the year
• Mirror Protocol (MIR) was one of the best-performing cryptocurrencies in the final week of the year
• The Relative Strength Index (RSI) has moved to the neutral point at 50

The final week of the year came with a bit of a surprise for cryptocurrency traders as the market drifted downwards. Bitcoin dropped to a low of $16,485, while other coins like XRP, ETH and ADA also dropped. Despite the general trend of decline, one coin that performed better than the rest was Mirror Protocol (MIR), which spiked to a high of $0.24, an increase of 173% from its lowest recorded level this year.

Mirror Protocol was an important part of Terra’s ecosystem and used its technology to make it possible for people to buy and sell financial assets in a tokenized manner. For example, users could buy Apple shares in a token form and then trade these tokens on a 24-hour basis. The project went obsolete after the collapse of Terra Protocol and the Terra USD stablecoin.

At the moment, MIR price has moved above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved to the neutral point at 50. This suggests that the coin may remain under pressure in the near term, as sellers target the key support at $0.1225.

As for buying the coin, it is yet to be listed on major exchanges, so the only option for investors is to buy it from other traders on P2P exchanges like LocalBitcoins. For those who are interested in investing in MIR, it is important to do your own research and understand the risks associated with it. Furthermore, it is also important to be aware of the project’s state and any upcoming developments that could affect its price.