MIRA +6.49% in 24 Hours Amid Sharp Long-Term Decline

On OCT 9 2025, MIRA surged by 6.49% within 24 hours to reach $0.4635, marking a brief reversal in its broader downward trend. Despite the daily gain, the token has experienced a staggering decline of 2478.47% over seven days, 2403.15% over one month, and a massive 6208.42% over one year. The recent 24-hour performance has raised questions among investors about potential short-term volatility and whether the movement reflects a broader shift or a temporary anomaly.

The daily increase came amid increased on-chain activity, with notable inflows into certain high-liquidity exchange pairs. While no major on-chain events or protocol upgrades were reported, the timing of the movement has led some traders to speculate that it may be linked to a shift in liquidity provider behavior or short-term capital reallocation. The broader ecosystem, however, continues to reflect long-term challenges, with sustained outflows observed in multiple key on-chain metrics over the past several weeks.

MIRA’s short-term price action has drawn attention to its technical indicators, particularly the relative strength index (RSI), which has shown signs of oversold conditions following the recent 24-hour rally. This has sparked renewed interest among algorithmic traders and market analysts, who are closely monitoring whether the RSI divergence might precede a broader price reversal. Other indicators such as the 50-day and 200-day moving averages remain bearish, reinforcing the broader long-term trend despite the recent uptick in volatility.

Given the recent 24-hour price movement and the divergence in the RSI, a backtesting hypothesis can be formulated to evaluate potential algorithmic strategies. The hypothesis is centered on using RSI levels as a trigger for short-term trades, with a specific focus on identifying potential entry points when the indicator reaches oversold levels. The strategy would involve entering a long position when the RSI dips below 30, with a stop-loss set at a fixed percentage below the entry price and a take-profit level calculated based on a defined risk-reward ratio.

This approach aims to capture short-term volatility while minimizing exposure to the broader downtrend. Initial assumptions suggest that the strategy could benefit from high liquidity during the rally, allowing for efficient entry and exit points. Further testing would require historical data to assess the frequency and reliability of such signals, particularly in relation to other on-chain metrics and overall market sentiment.