Market Overview: Metal DAO (MTLUSDT) – 24-Hour Price Action and Technical Insights

• Metal DAO surged over 24 hours, rising from $0.796 to $0.843, driven by a sharp rally starting at 00:00 ET.
• Bullish momentum was confirmed by a strong engulfing pattern at 00:15 ET and a higher high-volume spike.
• RSI hit overbought territory, suggesting potential near-term pullback risk despite strong buying pressure.
• Bollinger Bands showed a recent expansion, reflecting increased volatility in the early morning ET hours.
• Volume surged over 122k, with a sharp spike at 00:15 ET confirming breakout strength.

Metal DAO (MTLUSDT) opened at $0.796 on July 19, 2025 (12:00 ET–1), and surged to a high of $0.849 by 07:15 ET on July 20, hitting a 24-hour low of $0.795 before closing at $0.843 (12:00 ET). The 24-hour volume totaled 122,764.4 with a notional turnover of approximately $101,800, reflecting strong institutional and retail participation.

Structure & Formations

The 15-minute chart revealed a strong bullish engulfing pattern at 00:15 ET, confirming a breakout above a key resistance level near $0.82. The price then continued to test and surpass previous high levels, forming a rising wedge between $0.82–$0.845. A Doji appeared at 04:45 ET, signaling short-term indecision before buyers retook control. Key support levels appear to be $0.815 and $0.80, while resistance levels are now at $0.845 and $0.85.

Moving Averages

On the 15-minute timeframe, the 20-period and 50-period moving averages were in bullish alignment, with price above both. On the daily chart, the 50-period MA is approaching the 200-period MA, suggesting a potential golden cross may form soon, which would indicate a stronger long-term bullish bias.

MACD & RSI

The MACD crossed into positive territory at 00:15 ET and remained bullish for most of the session, confirming the upward momentum. The RSI hit overbought levels (above 70) in the early morning hours, indicating a possible near-term pullback. However, as long as RSI remains above 50 and MACD remains positive, the bullish trend may continue.

Bollinger Bands

Bollinger Bands showed a volatility expansion in the early morning hours, with price moving well above the upper band during the breakout phase. This suggests increased participation and aggressive buying. Price has since remained within the upper half of the bands, indicating continued bullish pressure.

Volume & Turnover

Volume spiked sharply at 00:15 ET with a 15-minute volume of 122,764.4, which was nearly 3x the prior 15-minute average. This confirmed the breakout and suggested strong institutional or retail buying. However, there was a volume divergence at 07:15 ET where the price hit a new high but volume dropped, which may indicate weakening momentum.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing (from $0.795 to $0.849), the 61.8% retracement level (~$0.825) was tested multiple times. The current price of $0.843 is approaching the 78.6% level, suggesting a potential pause or consolidation phase.

MTLUSDT appears to have strong near-term bullish momentum, but the overbought RSI and volume divergence may lead to a short-term pullback or consolidation. Traders may watch the $0.84–$0.85 range for potential resistance and the $0.82–$0.815 level for support. As always, keep in mind that volatility can increase rapidly in crypto markets, and positions should be managed with proper risk controls.