The movement @Mira - Trust Layer of AI $MIRA Perpetual is currently still in a consolidation phase after previously experiencing strong bearish pressure on the daily timeframe (1D). The market structure since the last peak is still forming a lower high and lower low pattern, indicating seller dominance in the medium trend. The current price is moving around the area of 0.08–0.09, approaching the support zone that previously served as a bounce point.
From the indicator side, EMA(7) is below EMA(25), indicating that short-term momentum is still weak. Meanwhile, the price position, which is far below EMA(99), confirms that the major trend is still bearish. However, there has been a significant spike in volume in the last few sessions. This increase in volume could indicate accumulation by large market players or short covering by futures traders.
If the price can break out and close daily above the EMA(25) with consistent volume support, the chance of a relief rally towards the resistance area of 0.10–0.11 becomes quite open. This area is a key zone that needs to be breached to shift the structure to a more neutral stance. On the flip side, if selling pressure increases again and the price fails to hold the support area of 0.08, then the potential for a retest to the previous lows should still be monitored.
For futures traders, the current volatility presents both opportunities and high risks. Using stop-losses, setting wise leverage, and confirming volume are crucial factors before making an entry decision. Always practice risk management and avoid being overexposed on a single position.
