Unexplained hovering fire ball in the sky

This experience has perplexed me for years.  Back in the mid early 1990’s while I was driving to my 2nd shift job at the time at approximately 9:45pm I saw something that I cannot explain.  I saw a large perfectly round red ball in the air over a field.  The best way I could describe it would be a fire ball.  At first it looked as if it was falling to the earth but was too slow of a descent to be something falling.  The object stopped falling hovered and moved to the right and then started to ascend back into the sky again.  There probably is some logical explanation as to what I was seeing but for the life of me I can’t think what that explanation would be.  I would love for someone with UFO experience to contact me and give me a logical explanation of what I was seeing.