Market Overview: Metis/Tether (METISUSDT) 24-Hour Technical Update

Summary
• Price dropped from $5.13 to $4.91 over 24 hours, showing bearish dominance in final hours.
• Strong bearish momentum confirmed by RSI near oversold levels and expanding Bollinger Bands.
• Key support at $4.90–$4.95 tested, with volume spiking during late sell-off.

Price and Volume Context

The Metis/Tether (METISUSDT) pair opened at $5.13 on 2026-01-08 at 12:00 ET, reaching a high of $5.17 and a low of $4.84 before closing at $4.91 on 2026-01-09 at 12:00 ET. Total 24-hour volume was 184,829.331 METIS, with notional turnover of $98,176.38.

Structure & Formations

Price action formed a key bearish breakdown pattern below the $5.00 psychological level, with a strong rejection observed near $5.06–$5.08 during the afternoon. A bearish engulfing pattern was confirmed at $5.00–$5.04, reinforcing the downtrend. A possible double-bottom structure could form near $4.87–$4.89 if the $4.90 level holds.

Volatility and Momentum

Bollinger Bands widened significantly during the final 6 hours, indicating heightened volatility. RSI dropped below 30 for the last 3 hours, signaling oversold conditions. MACD crossed bearishly below zero, with negative divergence showing weakening bullish momentum.

Volume and Turnover Divergences

Volume spiked during the sell-off from $5.00–$4.84, especially in the 10:00–13:00 ET period, confirming bearish sentiment. Notional turnover increased sharply from $4.95 to $4.84, with the largest block at $4.90–$4.89. Price and turnover aligned well during the breakdown, suggesting strong conviction in the move lower.

Fibonacci and Moving Averages

The breakdown from $5.00–$5.04 aligned with a 61.8% Fibonacci retracement level of the earlier $5.07–$5.17 rally. A 5-minute 20-period moving average confirmed the bearish bias, while the daily 50-period MA appears to sit near $5.00–$5.01.

The pair may test the $4.87–$4.89 range in the next 24 hours, with a potential bounce back toward $4.95 if bulls defend the key psychological level. Investors should watch for a potential rejection or breakdown below $4.87, which could lead to further downside risk.