MIRA -3500.00% YTD Amid Sharp 24-Hour Downturn

On OCT 7 2025, MIRA experienced a severe drop of 789.69% within 24 hours, reaching $0.5593. The coin continued its downward trajectory, recording a 948.21% decline over seven days, an 848.65% decline in one month, and a staggering 5432.57% decline over the past year. The movement reflects one of the most dramatic performances in recent digital asset history, signaling a potential structural shift in market confidence or underlying fundamentals.

The decline has raised concerns about MIRA’s viability and long-term trajectory. Analysts have closely monitored the asset for signs of stabilization or catalysts that could reverse the trend. However, no significant on-chain events, governance updates, or partnerships were reported during the same period that might have influenced sentiment. The absence of a clear external trigger underscores the volatility and liquidity challenges often associated with smaller-cap digital assets.

Technical indicators have also shown deteriorating signals. Short-term moving averages have crossed below long-term averages, reinforcing a bearish bias. Additionally, the Relative Strength Index (RSI) has remained in oversold territory for several days, suggesting that further declines may be limited in the very short term. However, RSI divergences have not yet provided a convincing case for a reversal, and trend-following indicators remain aligned with the downward momentum.

Backtest Hypothesis

A proposed backtesting strategy aims to evaluate potential trading opportunities during such extreme bearish conditions. The hypothesis is based on a mean-reversion approach, where trades are triggered when the RSI dips below 30, indicating oversold conditions. A stop-loss is placed below the recent swing low, and a take-profit is set at the nearest resistance level. The strategy is backtested using daily closes and assumes a fixed position size. The goal is to assess whether a systematic entry during a prolonged bearish phase could have mitigated losses or generated modest returns despite the overarching downtrend. This approach is designed to test the effectiveness of counter-trend signals in a rapidly deteriorating market.