Mira/Tether Market Overview for 2025-11-06

Summary
• Price moved between 0.2063 and 0.2169, with a 24-hour close near 0.2084.
• Volatility picked up after 18:00 ET with a sharp retrace to 0.2105 before consolidation.
• Volume peaked at 304,100 at 10:15 ET, coinciding with a key low and reversal.

Market Opening and Price Movement

Mira/Tether (MIRAUSDT) opened at 0.2100 on 2025-11-06 at 12:00 ET–1 and climbed to a high of 0.2169 before consolidating into a 24-hour low of 0.2063. The final 15-minute candle at 12:00 ET closed at 0.2084. Over the 24-hour period, total volume reached 8,489,289.5 and turnover hit $1.74 million, showing increased participation and volatility.

Structure & Formations

The price formation indicates a bearish consolidation pattern following a bullish breakout attempt. A key support level appears to be forming near 0.2076, where the price found a floor on the last two candles before 10:15 ET. Resistance levels are visible at 0.2105 and 0.2130, both of which have been tested multiple times over the past 24 hours. A notable bearish engulfing pattern occurred at 10:15 ET, which could signal a short-term reversal.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are closely aligned, suggesting a sideways trend. The daily chart shows a more defined bearish bias, with the 50-period, 100-period, and 200-period moving averages forming a descending order. Price appears to be trending slightly below all three, indicating ongoing bearish pressure.

MACD & RSI

The MACD line crossed below the signal line in the early morning hours, confirming a bearish trend. RSI currently sits near 40, indicating a moderate momentum phase with no signs of overbought or oversold conditions. However, the RSI divergence with price during the consolidation phase suggests traders may be cautious about further downside.

Bollinger Bands

Volatility expanded significantly after 18:00 ET, with the price reaching the upper Bollinger Band at 0.2169 before retracting sharply. The current price is trading near the lower band at 0.2063–0.2076, suggesting that the market is preparing for a potential reversal or continuation of the bearish trend.

Volume & Turnover

Volume was highly uneven, with a sharp increase at 10:15 ET and a moderate rise around 05:00 ET. The 10:15 ET candle had the highest volume (304,100) and was accompanied by a significant price drop. This supports the bearish signal from the engulfing pattern. However, volume declined after 07:00 ET, indicating weakening momentum.

Fibonacci Retracements

Fibonacci retracement levels applied to the last major 15-minute swing suggest that the 38.2% level is at 0.2124 and the 61.8% level at 0.2154. The 61.8% level may serve as a potential resistance if the price attempts a rebound. On the daily chart, Fibonacci levels from the recent high to the recent low show that 0.2076 aligns with the 61.8% retracement level, which could act as a critical support.

Backtest Hypothesis

Given the uncertainty around the "MIRAUSDT" trading symbol, the backtest for Bullish-Engulfing patterns cannot proceed unless the exact symbol and market are confirmed. If the symbol is indeed a stock (e.g., “MIRA.O” on NASDAQ), a backtest can be initiated using the same criteria for the 2022–2025 period. Confirming the correct symbol will allow us to align the backtest strategy with the price behavior observed in this 24-hour analysis.