Market Overview for Mira/Tether (MIRAUSDT) – 2025-10-04

• Mira/Tether (MIRAUSDT) traded in a bearish consolidation pattern over the last 24 hours, ending near a key support level.
• Momentum appears to be weakening, as evidenced by a flattening RSI and a contracting MACD histogram.
• Volatility dipped after an early flash rally, with price hovering near the lower Bollinger Band.
• Turnover spiked during the 00:00–03:00 ET window, but volume failed to confirm subsequent bullish moves.
• A potential bearish reversal pattern formed on the 15-min chart following the 04:00 ET peak.

The Mira/Tether (MIRAUSDT) pair opened at $0.6662 on 2025-10-03 at 12:00 ET and reached a high of $0.6927 before settling at $0.6350 at 12:00 ET on 2025-10-04. Total volume for the 24-hour period was approximately 10,131,122.5, while notional turnover (volume × price) was roughly $6,569,816.61. The price action reflects a bearish trend with intermittent attempts at bullish follow-through, which lacked conviction.

Structurally, the price appears to have tested key support levels around $0.6350–$0.6400 multiple times during the session, with a bearish engulfing pattern forming at the $0.6662–$0.6350 swing. The 15-minute chart also shows a series of doji candles, particularly after the $0.6800 level was tested, indicating indecision among traders. The most recent low of $0.6113 on 2025-10-04 suggests further support may emerge in that range.

The 20-period and 50-period moving averages on the 15-minute chart are both bearish, with the price consistently below both lines. On the daily chart, the 50-period MA crossed below the 200-period MA, reinforcing the bearish bias. Bollinger Bands are currently narrow, indicating a period of low volatility, with the price sitting near the lower band. This suggests a potential breakout or reversal may be imminent if the downtrend loses steam.

RSI has dipped into oversold territory around the 30–35 level, which could signal a short-term bounce. However, the MACD remains in negative territory with a flattening histogram, indicating that bearish momentum is waning. A key concern is the divergence between volume and price during the early ET session, where high turnover failed to confirm a bullish breakout. Investors should monitor whether the price holds above the $0.6350–$0.6400 range or retests critical Fibonacci levels at 38.2% ($0.6600) and 61.8% ($0.6520) for further directional cues.

The backtest strategy focuses on a multi-timeframe setup, utilizing 15-minute RSI divergence and a 50/200 EMA crossover on the daily chart to identify high-probability bearish entries. The strategy looks for RSI forming lower highs while price makes higher highs (bearish divergence), combined with price closing below the 50-day EMA. Stops are placed above key swing highs, with targets set at the nearest Fibonacci retracement levels. The recent data aligns with this framework, as both indicators suggest the pair remains in a bearish trend with limited upside catalysts in the short term.