Market Overview for Metis/Tether (METISUSDT) on 2025-11-11

• METISUSDT opened at $10.18 and reached a high of $10.32 before closing at $10.11 on 15-minute data.
• Volume surged to a peak of 8,690.162 with strong bearish momentum in the late night session.
• RSI and MACD signaled overbought and bearish divergence early in the session, followed by a sharp sell-off.
• Bollinger Bands widened after 23:00 ET as price broke below the 20-period MA, signaling increased volatility.
• Price action formed a bearish breakdown below key support at $10.18, with a potential target at $10.01.

Metis/Tether (METISUSDT) opened at $10.18 at 12:00 ET–1 and traded as high as $10.32 before closing at $10.11 by 12:00 ET. The 24-hour session saw a total volume of 8,690.162 and a notional turnover of $88,045.43. The price action reflected a bearish shift as the asset broke key support levels and closed near the session low.

Structure & Formations

The 15-minute chart displayed a clear breakdown below the $10.18 level, which acted as support earlier in the session. A bearish engulfing pattern formed around 04:30–05:00 ET, confirming a shift in sentiment from bullish to bearish. The RSI crossed below 50 at 02:00 ET, and by 04:30 ET, it had dipped into oversold territory, aligning with a sharp decline. A notable doji appeared at 00:45 ET, indicating indecision that ultimately gave way to downward pressure.

Moving Averages

On the 15-minute chart, price closed below the 20-period and 50-period moving averages, with the 50-period line at $10.20 acting as a resistance. The daily timeframe showed price testing the 100-period MA at $10.30, which failed to hold, reinforcing bearish momentum. The 200-period MA at $10.25 suggests a potential floor in the longer term.

MACD & RSI

The MACD turned negative after 02:00 ET and remained below zero, indicating bearish momentum. The histogram showed a widening divergence between price and momentum. RSI reached an oversold level of 30 by 05:00 ET, suggesting a potential short-term bounce, although this was not enough to reverse the trend. The combination of bearish MACD and RSI divergence signaled a high probability of further downside.

Bollinger Bands

Bollinger Bands expanded significantly after 23:00 ET, with price trading near the lower band by 04:00 ET. The volatility expansion indicated increased selling pressure. The widening bands also showed traders reacting to news or sentiment shifts, potentially triggered by broader market movements in the crypto space.

Volume & Turnover

Volume spiked above 8,000 at 04:30 ET, coinciding with the bearish engulfing pattern. Turnover mirrored the volume increase, peaking at $8,690.162. A divergence between rising volume and falling price suggested strong selling pressure. The morning session saw lower volume but increased selling intensity, reinforcing bearish signals.

Fibonacci Retracements

A key Fibonacci level of 61.8% at $10.12 was breached during the early morning hours, suggesting the next target is the 38.2% level at $10.01. On the 15-minute chart, the recent swing from $10.32 to $10.11 showed a potential continuation of the bearish trend. The 61.8% level now acts as a critical support zone to watch.

Backtest Hypothesis

Given the strong bearish signal from the engulfing pattern at 04:30 ET, a backtest hypothesis could be built on a 5-day-hold strategy triggered by such patterns. The backtest would involve scanning the historical 15-minute candles for the “Bullish Engulfing” pattern to determine if similar setups lead to a measurable price reversal within five trading days. This approach could help refine entry and exit points for traders using pattern-based strategies.