MIRA +721.15% in 24 Hours Amid Market Volatility

On OCT 11 2025, MIRA surged by 721.15% within 24 hours to reach $0.346, despite experiencing a steep 4105.4% decline over the past week and a broader 4143.14% drop over one month, with an annual decline of 7076.85%. The dramatic intraday movement points to a sharp reversal in sentiment or a triggering event that momentarily outpaced the token’s long-term bearish trend.

The token has been a focal point for traders and investors amid heightened market volatility. The overnight gain represents the most significant daily percentage change since the token’s launch, indicating a rapid shift in investor behavior. The sudden upswing came with no prior warning or widely publicized catalyst, raising questions about the nature of the triggering event. Analysts project that the move may have been driven by a combination of short-covering, algorithmic trading strategies, or a repositioning of capital following a period of prolonged underperformance.

Technical indicators used to evaluate MIRA’s price movement show a clear divergence from long-term averages. The RSI (Relative Strength Index) has entered overbought territory, while the MACD (Moving Average Convergence Divergence) has shown a narrowing histogram and a flattening signal line. These signals suggest a potential exhaustion of upward momentum and an increased likelihood of a pullback in the near term. The price action also shows signs of forming a bearish pattern after the sharp rebound, with key resistance levels now acting as potential turning points.

Backtest Hypothesis

A backtesting strategy was designed to evaluate the potential profitability of a long-position strategy based on the technical indicators discussed. The strategy is activated when the RSI crosses below 30 (a bullish divergence signal), followed by a closing price above a 50-period moving average. A sell signal is generated when the RSI crosses above 70 or when the closing price falls below the 20-period moving average. The strategy aims to capture short-term rebounds amid a broader downtrend.

The hypothesis assumes that the observed divergence and overbought conditions may signal a temporary stabilization point. By entering at a strategic low and exiting before a potential breakdown, the strategy attempts to profit from short-term volatility without exposure to the long-term bearish trend. Given MIRA’s recent price dynamics, this approach could have offered an entry point during the overnight rebound, although the sustainability of such a position remains uncertain in the context of the token’s historical performance.