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

• Mira/Tether (MIRAUSDT) closed lower after forming a bearish inside bar on 15-min chart
• Price fell 12.7% from 0.4546 to 0.4379, with key support identified near 0.4320
• Volume surged during bearish move but diverged with price during final 6 hours
• RSI hit oversold territory (28) and MACD turned negative, signaling weakening momentum
• Bollinger Bands widened significantly during downward leg, reflecting heightened volatility

Mira/Tether (MIRAUSDT) opened at 0.4546 on October 9 at 12:00 ET and closed at 0.4379 by the same time on October 10. The 24-hour period saw a high of 0.4681 and a low of 0.4110, with total trading volume of 1.64 billion USD and notional turnover of 719 million USD. The price action reflected a prolonged bearish bias with multiple support levels tested.

Structure & Formations

Price action over the 24-hour period revealed a strong bearish bias with multiple key levels defined. The most notable pattern was a bearish inside bar on October 9 at 23:45 ET, where price closed at 0.4646 with a high of 0.4658 and low of 0.4642, signaling potential reversal. Key support levels emerged around 0.4425, 0.4360, and 0.4320, with the last level showing strong buying interest near the close. A bullish engulfing pattern formed near 0.4379 at the end of the 24-hour period, suggesting potential near-term support.

Moving Averages

On the 15-minute chart, price closed below both the 20-period (0.4392) and 50-period (0.4438) moving averages, indicating bearish momentum. On the daily chart, the 50-period MA was at 0.4582, while the 200-period MA sat at 0.4632, suggesting further downward pressure could be expected in the short term if support levels break.

MACD & RSI

The 12-period MACD line crossed below the signal line around 0.4345, confirming bearish momentum. RSI reached 28 near the close, indicating oversold conditions, which may attract short-term buyers. However, the divergence between rising price and falling RSI in the final 4 hours of the 24-hour period suggests weakening bullish conviction.

Bollinger Bands

Volatility expanded significantly as price fell from 0.4681 to 0.4110, with the lower band touching 0.4285 and price moving closer to the 0.4320 level by the close. The widening of bands suggests heightened uncertainty among traders, particularly during the sharp drop from 0.4615 to 0.4329. Price currently resides near the middle band, indicating a possible consolidation phase.

Volume & Turnover

Volume increased during the bearish leg of the move, peaking at 173.6 million USD at 0.4208, but declined significantly in the final 6 hours as price neared 0.4379. This divergence between volume and price may indicate fading bearish conviction. Turnover followed a similar pattern, with a sharp spike during the drop from 0.4659 to 0.4294, but a noticeable slowdown in the last 6 hours.

Fibonacci Retracements

Applying Fibonacci to the recent swing from 0.4681 to 0.4110, key retracement levels include 0.4546 (23.6%), 0.4421 (38.2%), 0.4360 (50%), and 0.4300 (61.8%). Price has tested the 50% retracement level and may find support or resistance near 0.4300 in the coming period. Daily chart retracements on a previous move from 0.4609 to 0.4482 include 0.4572 (23.6%) and 0.4543 (38.2%).

Backtest Hypothesis

Based on the observed price action and technical indicators, a potential backtesting strategy could involve shorting MIRAUSDT near the 50-period moving average on the 15-minute chart, with a stop-loss above the recent high of 0.4681 and a take-profit at the 61.8% Fibonacci retracement level (0.4300). This approach would aim to capitalize on the bearish momentum confirmed by the MACD and RSI while managing risk via defined stop and limit levels. The divergence in volume during the final 6 hours also suggests a possible reversal or consolidation, making this a high-probability short-term trade if the key support levels hold.