Market Overview for Mira/Tether (MIRAUSDT): 24-Hour Candlestick Analysis

• Mira/Tether rises to 0.2099 amid bullish momentum and expanding volatility.
• RSI and MACD signal overbought conditions with potential for near-term pullback.
• Volume spikes confirm price action, but divergence could signal caution ahead.

The 24-hour period for Mira/Tether (MIRAUSDT) began at 0.1984 and closed at 0.2097, reaching a high of 0.2131 and a low of 0.1964. Total volume was 8,181,390.9, with a notional turnover of $1,667,112.7 (calculated from volume × price). The pair showed a strong upward bias, particularly in the final hours of the 24-hour cycle.

Structure & Formations

Price action showed a series of bullish reversals and consolidations, including a key Bullish Engulfing pattern between 00:30–00:45 ET and a strong 05:15–05:30 ET push to 0.2091. A key resistance level was observed at 0.2099–0.2105, with support forming around 0.2081–0.2087. The formation of long-bodied bullish candles in the final hours suggests accumulation and potential for further gains, though consolidation around the 0.2100 level could be imminent.

Moving Averages and Indicators

On the 15-minute chart, price closed above the 20-period and 50-period moving averages, suggesting short-term bullish bias. The daily chart remains below the 50-, 100-, and 200-day SMAs, indicating medium-term bearish pressure. The MACD crossed into positive territory, with a narrowing histogram suggesting momentum may be peaking. RSI reached overbought territory (75–80), raising caution about a possible retracement.

Bollinger Bands and Fibonacci Retracements

Volatility expanded significantly in the final 6 hours, with the upper Bollinger Band reaching 0.2131 and the lower band at 0.2079. Price closed just below the 0.2105 upper band, suggesting a potential near-term pullback. On Fibonacci retracement levels applied to the 0.2099–0.2065 swing, price currently sits at 38.2%, suggesting further consolidation or a test of the 61.8% level at ~0.2074.

Volume & Turnover

Volume spiked between 06:30–07:45 ET and again between 08:00–09:30 ET, aligning with price highs. Turnover rose in tandem, suggesting strong conviction in the bullish move. Divergence in the final hour, however, shows that volume did not confirm the new high, potentially signaling caution in the near term.

Backtest Hypothesis

A backtesting strategy using the Bullish Engulfing pattern was attempted for MIRAUSDT, but the symbol appears unavailable in the technical-indicator database. This likely reflects a data limitation or incorrect symbol. To proceed, confirmation of the correct symbol (e.g., MIRUSDT on Binance) or a manually provided list of Bullish Engulfing dates would be necessary to run a 2-day-hold backtest from 2022–01–01 to 2025–11–07. Once confirmed, this strategy could provide insight into the pattern’s historical performance and help assess its reliability for future entries.