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The Mira price plummeted 75% in the last 24 hours to trade at $0.01401 as of 02:15 a.m. EST, with trading volume plunging 21% to $111 million.
This comes after the crypto community united in support of four-year-old Mira Chen, who is suffering from a rare brain tumor. A Solana token, MIRA, created by a crypto trader in her honor, saw its market value soar to over $80 million within five hours of launch.
Mira is the youngest daughter of Runway CEO Siqi Chen. The widespread attention and support from the crypto world came after Siqi shared her journey on social media.
After the dramatic surge, the token has now corrected, dropping 75%.
Mira Price Bulls Searching For A Rebound Position
The Mira price chart on the 15-minute timeframe reveals a pronounced falling wedge pattern. The upper and lower trendlines converge as Mira price action narrows, which is indicative of decreasing volatility.
Falling wedges are often considered bullish reversal patterns, provided a breakout occurs at the upper trendline. However, the price of Mira remains trapped within the wedge and tests the upper boundary, signaling an attempt to rebound.
According to GeckoTerminal data, the overall trend is bearish, following a sharp decline from a local high above $0.08 to the current level of around $0.014. Lower highs and lower lows dominate the structure, reinforcing the downtrend.
The 50 Simple Moving Average (SMA) is trending downward and currently sits above the price at $0.019. This positioning confirms bearish momentum as the Mira price struggles to reclaim the support of SMA. This SMA also acts as dynamic resistance, capping potential upward moves.
Meanwhile, the Relative Strength Index (RSI) stands at 38.33, which is in the bearish zone. However, it has not yet entered oversold territory (below 30). This suggests there may still be room for further downside movement, though the RSI is nearing a potential bounce zone where buyers could step in.
Mira Price Prediction
If the Mira price manages to break out above the falling wedge’s upper trendline (around $0.015-$0.016), this could spark a bullish reversal. The target for such a breakout would be the $0.019-$0.020 range, aligning with the 50 SMA and the next resistance level.
Conversely, a bearish continuation trend is likely if the price of Mira breaks below the lower boundary of the wedge pattern. This scenario could push the MIRA price to retest lower support levels around $0.012-$0.010.
As the Mira price plummets, investors are snapping up the new Solana meme coin Solaxy (SOLX). 99Bitcoins, a popular crypto channel on YouTube with over 719K subscribers, says it might soar 100X after launch.
Solaxy Presale Garners Over $6.1 Million In Less Than 2 Weeks
Solaxy, the first layer-2 solution on Solana, has raised $6.1 million in just 13 days since launching its presale. This rapid success reflects the community’s belief in Solaxy’s potential to revolutionize blockchain technology.
Solaxy is not just another cryptocurrency project; it represents a groundbreaking approach to solving one of Solana’s most pressing issues—network congestion.
Hey everyone! 👋 I just came across an exciting project that's set to revolutionize the Solana ecosystem: Solaxy. Let's dive into what makes this Layer-2 solution a game-changer. 🚀 @SOLAXYTOKEN pic.twitter.com/B1f506l5r4
— Sammie Ranking (@Samuel__Martins) December 24, 2024
Solaxy addresses network congestion challenges head-on with its layer-2 technology. Unlike traditional layer-2 solutions that may divert resources from the base layer, Solaxy enhances Solana’s capabilities without compromising its integrity.
Moreover, Solaxy bridges Solana with Ethereum, combining the best features of both networks.
By leveraging Ethereum’s liquidity and security alongside Solana’s speed and scalability, Solaxy creates a robust ecosystem tailored to accommodate the growing demands of decentralized finance (DeFi) and meme coin trading.
Buyers of the SOLX token can also earn passively on the platform, with a humongous 632% APY currently on offer.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens at $0.001582 each using BNB, ETH, USDT, or a bank card.
Buy before a price hike in slightly less than 2 days to secure the best deal.
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