Market Overview for Metis (METISUSDT) – 24-Hour Summary

• Metis (METISUSDT) declined sharply from $16.30 to $15.80 amid rising bearish momentum.
• A bearish engulfing pattern formed near $16.25, confirming a key breakdown.
• RSI and MACD signaled oversold conditions by 9:00–10:00 ET, followed by a failed rebound.
• Volatility expanded with a 3.6% range, but volume remained moderate.
• A 61.8% Fibonacci level at $15.50 and 38.2% at $15.85 appear critical for near-term direction.

Market Overview

Metis (METISUSDT) opened at $16.30 on 08/25 12:00 ET and closed at $15.79 24 hours later, with a high of $16.39 and a low of $15.34. Total volume for the 24-hour period was approximately 112,042 METIS, and notional turnover reached around $1.81 million.

Structure & Formations

Price action on METISUSDT revealed a sharp bearish breakdown from the $16.25–$16.35 cluster, with a bearish engulfing pattern forming on the 16:15–16:30 ET candles. A strong rejection below $16.25 accelerated the decline to $15.80. Key support levels identified at $15.80, $15.60, and $15.45, with $15.50 marking a 61.8% Fibonacci retracement of the 16.30–15.34 move. Resistance is now likely clustered between $15.80 and $15.90, with a potential test of $16.00 if buyers step in.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were both bearish, trending below price and reinforcing the downward pressure. The daily chart shows the 50-period, 100-period, and 200-period SMAs also bearish, with the 50-day MA at ~$16.10. The price remains below all major moving averages, signaling sustained bearish bias.

MACD & RSI

The MACD turned negative and crossed below the signal line, confirming bearish momentum. RSI hit oversold territory in the early morning hours but failed to produce a meaningful rebound, suggesting limited short-term buying interest. The RSI remains in the 30–40 range, indicating a potential for a pullback but without confirmation of reversal.

Bollinger Bands

Price moved near the lower Bollinger Band for much of the session, with volatility expanding as the band width widened during the 6:00–8:00 ET time frame. Price retesting the lower band suggests potential for a short-term bounce, though a sustained move above the upper band appears unlikely without strong volume confirmation.

Volume & Turnover

Volume remained mixed, with the largest 15-minute volume spike at 20:15 ET (11,396 METIS), corresponding to a sharp drop to $15.51. The $15.34 low was supported by moderate volume, suggesting some short-term capitulation. However, turnover did not confirm a strong breakout, and divergence between price and volume raises caution about the sustainability of the move lower.

Fibonacci Retracements

The key 38.2% Fibonacci level at $15.85 and 61.8% at $15.50 appear critical. A retest of $15.85 could trigger a short-term rebound, while a sustained move below $15.50 may signal further downside toward $15.20.

Metis may face a short-term consolidation phase around $15.80–$15.85, but the near-term trend remains bearish without a clear reversal above $16.00. Investors should monitor for a breakdown below $15.50, which could intensify selling pressure. Volatility and volume divergence suggest the risk of choppy price action and false breakouts over the next 24 hours.