Market Overview: Mina/Bitcoin (MINABTC) - 24-Hour Analysis

Generated by AI AgentTradeCipherReviewed byAInvest News Editorial Team
Monday, Nov 10, 2025 7:51 pm ET1min read
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- MINABTC fell to $1.47e-06 after opening at $1.57e-06, showing sustained bearish pressure in 24-hour trading.

- RSI near 30 indicates oversold conditions, suggesting potential short-term rebounds despite descending channel patterns.

- Late-session volume spikes and bearish engulfing patterns confirm strong selling momentum near Fibonacci 61.8% support level.

- MACD divergence and Bollinger Bands contraction hint at weakening bearish momentum, but price remains below key moving averages.

Summary
• Price opened at $1.57e-06 and closed at $1.47e-06 amid a bearish trend.
• RSI near oversold levels suggests potential for a short-term bounce.
• High volume in late hours indicates strong bearish conviction.

Mina/Bitcoin (MINABTC) opened at $1.57e-06 and traded as high as $1.58e-06 and as low as $1.47e-06 over the past 24 hours, closing at $1.47e-06 at 12:00 ET. Total volume reached 327,864.2 and notional turnover amounted to $491.80. The pair has been trending lower, with bearish control dominating much of the session.

Looking at the structure, a descending channel is forming, with a key support level at $1.47e-06 being tested multiple times. A bearish engulfing pattern is visible during the late afternoon and early evening hours, reinforcing the downward momentum. A doji near $1.5e-06 suggests indecision, but buyers failed to show strength afterward. The price remains below the 20-period and 50-period moving averages, indicating a bearish bias in the short term.

MACD shows negative divergence, with the histogram contracting, suggesting weakening bearish momentum. RSI is near the 30 level, pointing to potential oversold conditions. While this could lead to a rebound, further bearish action may still be likely without strong follow-through buying. Bollinger Bands have expanded in the evening session, showing increased volatility, with the price currently trading near the lower band, indicating potential for a bounce.

Volume spiked in the late hours of the session, particularly after 08:00 ET, with large bearish blocks pushing the price toward $1.47e-06. However, this volume did not confirm a strong continuation, suggesting possible exhaustion. Fibonacci retracement levels from the recent swing high ($1.58e-06) show that the price is approaching the 61.8% level at $1.47e-06, which could act as a strong support or trigger further selling.

Backtest Hypothesis:
Given the RSI nearing oversold levels and the current bearish structure, a potential RSI-oversold strategy could be backtested using this pair. A backtest from 2022-01-01 to today would involve entering long positions when RSI-14 dips below 30 and exiting after 5 trading days. This approach could capture short-term bounces from oversold conditions, especially in a volatile, mean-reverting pair like MINABTC. Historical RSI behavior and volume divergence could influence the strategy’s performance.