Market Overview for Mina/Bitcoin (MINABTC) – October 6, 2025

• Mina/Bitcoin consolidates near 1.35e-06 as bearish pressure dominates after a brief rebound attempt.

• Price remains below key moving averages with RSI in oversold territory, signaling potential for further downside.

• Bollinger Bands remain contracted, suggesting low volatility, with no clear breakout signs in recent 15-minute intervals.

• On-chain volume spikes at 22:45 ET and 14:45 ET coincide with minor price retracements but failed to sustain bullish momentum.

• Fibonacci retracement at 61.8% (1.35e-06) serves as a key support zone, currently being tested.

The Mina/Bitcoin (MINABTC) pair opened at 1.37e-06 on October 5, 2025 at 12:00 ET and closed at 1.35e-06 on October 6, 2025 at 12:00 ET, with a high of 1.38e-06 and a low of 1.34e-06. Total traded volume over the 24-hour window reached 115,136.8, while notional turnover amounted to approximately $157,212.8 at closing prices.

Structure on the 15-minute chart reveals a bearish bias as price continues to trade below key support at 1.35e-06, with bearish engulfing patterns visible in the late evening session. A doji formed at 1.35e-06 suggests indecision among traders, but the lack of follow-through buying confirms a bearish sentiment. The 20- and 50-period moving averages remain above the price, reinforcing the downward bias. However, no clear resistance above 1.37e-06 has been breached, preventing a decisive move lower.

The 50-period moving average on the daily chart currently sits above the current price, while the 100- and 200-period lines have not yet crossed below it. This indicates the broader trend remains neutral to bearish. MACD appears flat with no bullish crossover, and the RSI has dipped into oversold territory, hinting at potential near-term support. However, due to the flat MACD and weak volume, the likelihood of a strong bounce is limited unless a large-volume buying event occurs.

Bollinger Bands have remained contracted for most of the 24-hour period, reflecting low volatility and a lack of directional momentum. Price is currently trading near the lower band at 1.34e-06, suggesting the market may struggle to find buyers at this level. A break below the 1.34e-06 level could accelerate bearish sentiment, pushing the price toward the 1.33e-06 threshold.

Fibonacci retracement levels suggest that 1.35e-06 (61.8%) is a critical support zone. Price action over the past 15 minutes has tested this level without breaking it, indicating a potential area of accumulation. A failure to hold above this level could signal a deeper pullback toward 1.33e-06, where the next key Fibonacci level resides.

Over the next 24 hours, investors may see a continuation of this consolidation as market participants await a catalyst to break the recent sideways range. A breakout above 1.37e-06 could rekindle bullish interest, but bearish momentum remains dominant. Investors should remain cautious of further downside risk and watch for confirmation of a key support break below 1.35e-06.

The backtest strategy under consideration involves a multi-timeframe approach, combining short-term momentum with Fibonacci retracement levels. A potential entry would be triggered when price breaks above the 20-period moving average on the 15-minute chart, accompanied by a RSI crossover above 50 and a volume confirmation. Stop-loss would be placed at the most recent swing low, with take-profit aligned with the 61.8% Fibonacci level on the daily chart. Given the recent bearish bias and consolidation near 1.35e-06, this strategy would remain on hold until a bullish breakout is confirmed.