Market Overview for Mira/Tether (MIRAUSDT) on 2025-10-12

• Mira/Tether (MIRAUSDT) traded in a downtrend during early hours before stabilizing mid-day.
• A strong bearish reversal formed after hitting a 24-hour low of $0.315 before a moderate recovery.
• Volatility spiked during the morning ET, with a notable volume surge at the 0.320–0.325 range.
• RSI and MACD indicated oversold conditions mid-day, supporting potential for a near-term bounce.
• Bollinger Bands showed a recent contraction, signaling a possible breakout or consolidation phase.

Overview

Mira/Tether (MIRAUSDT) opened at $0.3452 on 2025-10-11 12:00 ET and fell to a low of $0.315 before closing at $0.3343 on 2025-10-12 12:00 ET. The pair reached a high of $0.3492 during the session. Total volume traded was 12,595,643.0 and notional turnover stood at $4,192,687.65 over the 24-hour period.

The price action reflects a bearish bias early in the session, with a strong reversal forming around midday as volume increased. The 20-period and 50-period moving averages on the 15-minute chart crossed bearishly, but the 50-period line has since flattened, indicating a potential pause in the downward trend.

Structure & Formations

A bearish engulfing pattern formed on the 15-minute chart at $0.3205–$0.3276 during the early morning hours, signaling a continuation of the downward move. A doji at $0.325–$0.3252 during the 04:15–04:30 ET window suggested a potential pause in selling pressure.

The price found a key support level around $0.320–0.325 and bounced back with a moderate bullish momentum. A possible consolidation zone is forming between $0.331–$0.338. Traders may watch for a potential bullish breakout or a retest of the lower boundary.

MACD & RSI

The MACD crossed below the signal line early in the session, confirming a bearish momentum. However, the histogram began to narrow midday, and the line turned bullish after 05:00 ET, suggesting a momentum shift. The RSI hit 27 near 0.315 and rose to 48 by the close, indicating oversold conditions and potential for a short-term rebound.

Combined with the Bollinger Band contraction and a rising RSI, this suggests a potential mean reversion scenario. If the RSI remains above 40, the bulls may have a stronger hand in the near term.

Bollinger Bands & Volatility

Bollinger Bands showed a contraction during the early hours, especially between 04:00 and 06:00 ET, which may indicate a period of low volatility followed by a breakout. The price closed near the middle band, which could act as a potential pivot for the next 24 hours.

Volume spiked during the morning hours, aligning with the price decline. The notional turnover during the 02:30–04:30 ET window increased significantly, especially in the 03:00–03:15 ET period, where a large candle closed at $0.3367. This suggests increased participation from larger traders during that time.

Fibonacci Retracements

Applying Fibonacci retracement levels to the key 15-minute swing from $0.3452 to $0.315, the 61.8% level sits at $0.3295, which the price has already tested and rebounded from. The 38.2% level at $0.3354 appears to be a minor resistance.

On the daily chart, the recent swing from a high to $0.3492 may see a retest of the 50% retracement level at $0.3376, which could act as a potential pivot.

Backtest Hypothesis

The backtest strategy involves entering a long position when the RSI drops below 30 and the MACD turns bullish on the 15-minute chart, with a stop-loss at the recent swing low. The exit is triggered when the RSI crosses above 50 or a Bollinger Band breakout occurs. Given the current RSI at 48 and the MACD showing bullish momentum, this strategy appears to have potential if the price continues to stabilize above $0.325.