Market Overview for Mira/Tether (MIRAUSDT) as of 2025-11-10

Summary

• Price drifted down from 0.2256 to 0.2201, with a final close of 0.2201 on low-volume consolidation.
• MACD showed weakening momentum, with RSI hovering near mid-range, suggesting indecision.
• Volatility expanded during the early AM session but has since contracted, signaling a potential range setup.
• Key support at 0.2196 and resistance at 0.2235 were tested multiple times.
• Turnover was mixed, with spikes at 00:15 and 05:30 ET but no strong divergences with price.

Opening Narrative

Mira/Tether (MIRAUSDT) opened at 0.2192 on 2025-11-09 12:00 ET and reached a high of 0.2256 before closing at 0.2201 on 2025-11-10 12:00 ET. The 24-hour low was 0.2180. Total volume was 10,399,793.2, with a notional turnover of $2,310,177.18.

Structure & Formations

Price action formed multiple indecisive patterns such as spinning tops and small-bodied candles, especially in the early morning hours, indicating a tug-of-war between bulls and bears. A notable bearish inside bar appeared at 05:30 ET, followed by a false break attempt at 06:00 ET. A strong bullish engulfing pattern briefly appeared around 00:15 ET but was quickly invalidated by bearish follow-through.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA early on, forming a bearish crossover. The 50-period MA has been a resistance level around 0.222–0.223. On the daily chart, price remains below the 100- and 200-period MAs, indicating bearish bias. The 50-period MA is flattening, suggesting a potential shift in near-term momentum.

MACD & RSI

The MACD line has been trending lower, with the histogram shrinking, indicating waning bearish momentum. RSI has remained in the 45–55 range for most of the day, pointing to a neutral market. A bearish divergence appeared on the 15-minute chart at 02:45 ET, where price made a higher high but RSI made a lower high, signaling potential for a pullback.

Bollinger Bands

Price has spent much of the session in the lower half of the bands, indicating bearish pressure. A brief expansion in volatility occurred during the 00:15–05:30 ET window before a contraction took place. This suggests that the market is currently consolidating, and a break beyond the upper band could signal a potential short-term reversal.

Volume & Turnover

Volume spiked at 00:15 ET and again at 05:30 ET, both coinciding with price rejections at key levels. The highest notional turnover occurred at 00:15 ET, when the price surged to 0.2256. A volume spike at 07:30 ET followed a minor bearish reversal, but it lacked the strength to confirm a breakdown. Divergences between volume and price were observed, suggesting potential exhaustion in both directions.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 0.2180–0.2256 swing, key levels include 0.2226 (38.2%), 0.2211 (50%), and 0.2196 (61.8%). Price has repeatedly tested the 61.8% level without breaking through, indicating strong support. On the daily chart, the 0.2200–0.2250 range marks a potential consolidation zone ahead of further direction.

Backtest Hypothesis

To run the back-test correctly, the analysis must focus on the MIRAUSDT pair, as it represents the actual tradable cryptocurrency pair. Historical MACD bottom divergences can be identified and used to trigger long entry signals. The strategy would backtest from 2022-01-01 to the present, using strict stop-loss and take-profit parameters to measure performance. Integrating this strategy with the current technical setup (e.g., RSI neutrality, volume divergence) could help refine entry timing and risk management.