Market Overview for Mitosis/Tether (MITOUSDT) – October 11, 2025

• Price opened at $0.1484 and dropped to a 24-hour low of $0.0511 before recovering to close at $0.1137.
• Volatility spiked during the crash, with a 72% drop from the morning high, but buyers returned to support levels.
• Volume surged during the sharp decline, but turnover normalized later, signaling possible exhaustion of short-term sellers.
• RSI bottomed at oversold levels, suggesting a potential bounce, but a close above key resistance is needed for bullish confirmation.
• Bollinger Bands show tightening followed by a sharp expansion during the selloff, indicating a possible reversion to trend.

MITOUSDT opened at $0.1484 on October 10 at 12:00 ET and traded as high as $0.1545 before crashing to a 24-hour low of $0.0511. By 12:00 ET on October 11, the pair closed at $0.1137. Total volume for the 24-hour window was approximately 245,626,715.1 and turnover reached $116,353,666. The price action reflects a sharp selloff followed by a partial rebound, with volatility and momentum swinging sharply during the day.

Structure & Formations

Price formed a large bearish engulfing pattern during the selloff on October 10 between 21:15 and 21:30 ET, confirming a shift in sentiment. A doji appeared around the $0.0582 level at 21:30 ET, signaling a pause in the downward momentum. The rebound from $0.0511 showed a bullish reversal as buyers stepped in between 23:00 and 01:00 ET, forming a rising wedge pattern in the early hours of October 11. Key support levels to watch include $0.1100 and $0.1050, while resistance appears at $0.1200 and $0.1250.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both dropped significantly during the selloff, with price falling well below both. The 20SMA began to turn upward after 00:00 ET, indicating short-term buying pressure. On the daily chart, the 50, 100, and 200-day moving averages all sit above the current price, suggesting a bearish bias in the broader trend. However, the narrowing gap between the 50 and 200-day SMA suggests a possible reversal or consolidation period.

MACD & RSI

The MACD turned negative during the selloff, with a large bearish histogram confirming the sharp decline. However, the histogram has flattened and slightly turned bullish during the rebound, suggesting a possible equilibrium is forming. RSI bottomed near 10 during the selloff, entering oversold territory, but has since recovered to around 45, indicating potential for a bounce. A close above 50 could suggest renewed buyer interest, but a confirmation above key resistance is still needed for a bullish turn.

Bollinger Bands

Bollinger Bands showed a period of contraction before the selloff, indicating low volatility and a potential breakout. The sharp drop in price caused a massive expansion of the bands, pushing price well below the lower band. This suggests the move was a reversion to mean or a breakdown. Price has since moved back toward the middle band and could consolidate within the bands in the near term, with a possible test of the upper band if bullish momentum resumes.

Volume & Turnover

Volume spiked dramatically during the selloff, with the largest 15-minute candle (at 21:30 ET) seeing a volume of 4,889,820.8. This volume spike confirms a breakdown as selling pressure was overwhelming. However, volume has normalized since the 01:00 ET rebound, with no large spikes, indicating limited follow-through from buyers. Turnover increased in line with volume during the selloff but has since stabilized. The divergence between price and volume suggests that while the selloff was real, the buying pressure on the rebound may not be equally robust.

Fibonacci Retracements

Applying Fibonacci retracement levels to the October 10 selloff from $0.1545 to $0.0511, the key levels are $0.1170 (38.2%), $0.1105 (50%), and $0.1041 (61.8%). Price is currently near the 50% retracement level, suggesting a potential pivot point. If buyers can push above $0.1170, it may confirm a retesting of the 38.2% level as support. A failure to hold at the 50% level could indicate a deeper correction toward the 61.8% level.

Backtest Hypothesis

The backtesting strategy described focuses on mean reversion, using RSI and Bollinger Band signals to identify overextended price moves and reverse them. Based on today’s price action, the sharp selloff into oversold RSI territory and the Bollinger Band contraction followed by a sharp expansion align well with the conditions outlined in the strategy. If the market continues to retest the 50% Fibonacci level and shows a strong bounce with confirmation from volume, this could serve as a favorable entry point for a mean reversion trade. The strategy appears viable in this context, provided the price finds support and shows follow-through buying.