Mira/Tether (MIRAUSDT) Market Overview for 2025-11-08

Summary
• Price advanced from $0.2209 to $0.2295 before consolidating near $0.2219.
• Volume surged 41x at 02:45 ET amid sharp pullback.
• RSI hovered near neutral zone, hinting at potential momentum shift.
• Bollinger Bands constricted ahead of key support at $0.2180.
• 15-min candlestick structure showed bearish divergence late in the session.

At 12:00 ET, Mira/Tether (MIRAUSDT) opened at $0.2209 after a 24-hour session ranging between $0.2175 and $0.2316. The pair closed at $0.2219 with total volume of 15,087,273.2 and turnover of $3,347,525. Price formed a bearish flag pattern following a rally that reached 0.2316, followed by a sharp reversal to 0.2219.

Key support levels emerged at $0.2209 (initial open) and $0.2180, with a critical test likely in the next 24 hours. Resistance appeared at $0.2295–$0.2306, with a failed breakout seen after 18:00 ET. The 15-min 20SMA crossed above 50SMA midday, confirming a bullish bias that reversed after 23:15 ET.

Momentum indicators showed mixed signals. RSI remained between 50 and 60, avoiding overbought levels but hinting at a potential stall in the downward trend. MACD crossed into negative territory late in the session, suggesting bearish pressure. Bollinger Bands narrowed around $0.2255–$0.2275 during a consolidation phase, before widening again as price dropped below $0.2220.

Volume spiked sharply after 02:45 ET (from $0.2295 to $0.2258), coinciding with a high-impact sell-off. Notional turnover during this period totaled $118,279 on 513,089.8 volume, suggesting a potential short-term bottom may form near $0.2180. A bullish retest of $0.2295 could trigger fresh buying, but a break below $0.2209 would raise bearish concerns.

Looking ahead, traders should monitor the 0.2180–0.2209 range for a potential reversal or continuation. A break above 0.2295 could test 0.2316–0.2325 levels, while a sustained drop below 0.2180 may trigger further downside to 0.2165. Volatility remains elevated, and traders should remain cautious of potential divergence between price and volume.

Backtest Hypothesis

To further validate potential entry and exit points identified above, a backtest strategy could be applied using RSI as a momentum filter. Since RSI data for MIRAUSDT is unavailable, we suggest using a similar symbol if available (e.g., MIRUSDT). Once confirmed, the strategy could proceed as follows:

1. Generate daily RSI(14) values and identify overbought (RSI ≥ 70) and oversold (RSI ≤ 30) conditions.
2. Trigger sell entries at overbought levels, exit after 3 trading days.
3. Trigger buy entries at oversold levels, exit after 3 trading days.
4. Backtest this strategy from 2022-01-01 to 2025-11-08 and report performance (win rate, average return, drawdown).

By integrating RSI signals with the key support/resistance levels and volume patterns identified in this overview, a robust model for tactical entry and exit points can be developed.