MIRA -578.71% in 24 Hours Amid Sharp Downturn in Trading Activity

On OCT 8 2025, MIRA experienced a drastic 578.71% drop within 24 hours, settling at $0.5044. Over the past seven days, the asset fell by 2291.41%, marking a steep and prolonged decline in value. Similarly, the one-month and one-year performance metrics reflect a 1689.1% and 5852.04% loss, respectively. These figures illustrate an extraordinary level of depreciation across multiple timeframes, drawing attention from investors and analysts tracking market dynamics and volatility patterns.

The technical analysis of MIRA’s price movement reveals a consistent bearish trend across all major intervals. The extended decline has created a pronounced downtrend, with no signs of a reversal in the immediate term. Historical support levels have been breached, and resistance structures are expected to be retested at significantly lower price points. Analysts note that the asset has entered a phase of high liquidity outflow, with limited buying pressure to stabilize or reverse the current trajectory.

Technical indicators used in the analysis include moving averages and RSI readings, which have shown extended bearish signals. The RSI has remained below 30 for an extended period, suggesting a state of oversold conditions. However, this is not typically seen as a reliable trigger for bullish reversals in the absence of positive volume or buying interest. The 50-day and 200-day moving averages have both crossed below key price levels, reinforcing the bearish bias in the near-term outlook.

Backtest Hypothesis

A backtesting strategy has been proposed to evaluate potential performance under historical price conditions. The hypothesis involves a long-only approach, entering positions when MIRA's price closes above a 50-day moving average and exits when it falls below this level. The strategy also includes a trailing stop-loss mechanism to mitigate losses during steep declines. The goal is to assess whether such a strategy could have captured any upside potential amid the extended downturn, or if the bearish trend would have overwhelmed any attempt at profit-taking. Preliminary results from this strategy are expected to highlight the challenges of trading MIRA in a sustained bear market.