Market Overview for Metis/Tether (METISUSDT) on 2025-09-23

• Price declined early, bottomed at $13.05, and recovered to close near $13.43 with moderate volume.
• RSI shows oversold conditions for a time, followed by moderate bullish momentum recovery.
• Volatility expanded after midday ET, with price reaching a 24-h high of $13.72 before retracting.
• Bollinger Bands expanded in late morning, signaling increased price uncertainty.
• Volume spiked during key reversals, confirming price action on both bullish and bearish swings.

Price Overview and Key Metrics

Metis/Tether (METISUSDT) opened at $13.40 on 2025-09-22 at 12:00 ET, reached a low of $13.05, and closed at $13.43 on 2025-09-23 at 12:00 ET. The 24-hour range extended from $12.91 to $13.72. Total volume traded was 33,186.86 METIS, with a notional turnover of $441,025.24, indicating active participation during key price pivots.

Structure & Formations

Price action displayed a bearish trend early, forming a key intraday low at $13.05 supported by a doji and a bullish engulfing pattern. Subsequent price action developed a moderate bullish bias, with a key breakout above the 15-minute 20-EMA and a strong candle on 2025-09-23 at 15:30 ET reaching $13.70. The overall 15-minute structure shows a consolidation phase after the bullish reversal, with support levels forming around $13.20 and $13.05.

Moving Averages

The 15-minute chart shows the price closing above the 20-EMA and the 50-EMA, indicating a short-term bullish bias. The 50-period EMA crossed above the 20-period EMA midday, signaling a bullish crossover. On the daily chart, the price remains above the 50- and 200-day moving averages, suggesting medium-term support.

MACD & RSI

The 15-minute MACD turned bullish after midday ET, with a positive crossover and expanding histogram. The RSI reached an oversold reading of 26 early in the session and recovered to a moderate 47 at the end of the 24-hour window, indicating a potential rebound after a bearish phase. Momentum appears to be stabilizing, suggesting a potential for a continuation of the recovery phase.

Bollinger Bands

Bollinger Bands widened significantly in late morning as price volatility increased, reaching a peak around 2025-09-23 at 15:15 ET. Price remained within the bands throughout the session, with the most recent candle closing near the middle band. The expansion suggests a potential breakout scenario, though price has yet to break out decisively above or below the bands.

Volume & Turnover

Volume spiked sharply during the intraday low at $13.05 and again during the 15:30 ET bullish reversal, confirming the significance of these price levels. Notional turnover reached $11,200 at the 15:30 ET candle, suggesting strong conviction in the upward move. Divergences were not observed between volume and price during the session, adding credibility to the current price direction.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 15-minute swing from $13.05 to $13.72, the 50% retrace level is at $13.38, where price found resistance and consolidation. The 61.8% retrace level is at $13.59, a key potential area for resistance in the next 24 hours. Daily retracements from the recent swing low show support at $13.20 and resistance at $13.65, aligning with current price action.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions on a bullish engulfing pattern, confirmed by a close above the 15-minute 20-EMA and a strong volume spike. This approach aligns with the observed candlestick pattern on 2025-09-23 at 08:45 ET and would be complemented by monitoring the 50% and 61.8% Fibonacci retracement levels for potential exits or stop-loss placements. This strategy would benefit from the current bullish momentum and strong volume confirmation.