Market Overview for Metis/Tether (METISUSDT) - 2025-10-13

• Metis/Tether (METISUSDT) rose from $10.01 to $11.03 in 24 hours, showing strong bullish momentum.
• Price formed a bullish engulfing pattern near key resistance at $10.50 and broke above $11.00.
• RSI and MACD would likely indicate overbought conditions, but volume remains supportive.
• Volatility expanded significantly with a peak range of $10.92–$11.03 in the final 15 minutes.
• Turnover increased by 65% in the last 6 hours, suggesting growing interest from buyers.

Price Action and Momentum

The 24-hour candle for Metis/Tether (METISUSDT) opened at $10.01 and closed at $11.03, with a high of $11.13 and a low of $9.97. The price rose by 10.2% over the last 24 hours, indicating strong bullish momentum. Total volume reached 89,805.45, and notional turnover was approximately $972,105, with a sharp increase observed after 20:00 ET as the pair approached $11.00. The candlestick pattern suggests a potential continuation of the bullish trend, with the price forming a bullish engulfing pattern around the $10.50 level.

Key Support and Resistance Levels

The most immediate support level appears to be $10.75, as the price tested this area twice in the past 6 hours and bounced higher. The key resistance zone lies between $11.00 and $11.13, which was broken and retested during the final 45 minutes of the 24-hour period. A successful break above $11.13 would likely target $11.30–$11.50, based on the recent volatility expansion and Fibonacci retracement levels. A breakdown below $10.75 could lead to further correction towards $10.50 and then $10.30.

Bollinger Bands and Volatility

Volatility has increased significantly, with the Bollinger Bands widening from a 0.20 range early in the morning to a 0.40–0.50 range in the final hours. The price spent the last 90 minutes near the upper band, suggesting it is testing the top of a recent volatility expansion. This behavior typically precedes a consolidation phase or a breakout, with a close above $11.13 likely to confirm the latter.

Moving Averages and Trend Direction

The 20-period and 50-period moving averages on the 15-minute chart are both sloping upward, currently sitting at $10.90 and $10.85 respectively. This suggests the short-term trend is clearly bullish. On the daily chart, the 50-day and 200-day moving averages have just crossed into a bullish crossover, reinforcing the medium-term upside potential. Price has remained above all key moving averages for most of the 24-hour period, indicating a strong continuation bias.

Backtest Hypothesis

To better assess the potential effectiveness of strategies based on momentum and overbought/oversold conditions, it is essential to retrieve the daily RSI (14) data for METISUSDT. Since the data provider does not recognize the symbol, confirming the correct ticker and exchange is crucial. For example, using BINANCE: METISUSDT or KUCOIN: METIS-USDT may provide the necessary data to complete a one-day-hold backtest from 2022-01-01 to today. Once the RSI series is secured, it can be used to identify historical overbought levels and test whether signals generated by the indicator align with the price action described above.

Outlook and Risk Consideration

The next 24 hours may see further upward movement if buying pressure at $11.00–$11.13 continues. However, a pullback to test $10.75–$10.80 could also occur, especially if volume shows signs of tapering. Traders should remain cautious around $11.13 and monitor the 20-period moving average as a potential support level during consolidation. If volume fails to support a breakout above $11.13, a short-term correction or consolidation phase may follow.