Market Overview: Metis/Tether (METISUSDT) on 2025-12-11

Summary
• Price action formed a bearish reversal pattern near $6.70 with retesting and breakdown.
• Volatility expanded as volume surged during the sharp decline below $6.50.
• RSI approached oversold territory, suggesting potential for a near-term rebound.
• Bollinger Bands widened, indicating heightened uncertainty in the short term.
• Fibonacci support at 61.8% (~$6.29) held, with potential for a test of 38.2% (~$6.44).

The 24-hour period for Metis/Tether (METISUSDT) opened at $6.70 and reached a high of $6.76 before closing at $6.21 by 12:00 ET, with a low of $6.06. Total volume amounted to 155,785.35 METIS, and notional turnover stood at $938,202.60.

Structure & Formations

Price tested key resistance at $6.70 twice, forming bearish reversal patterns. A sharp breakdown below $6.50 confirmed a bearish bias, with support testing at $6.45 and $6.29.

Moving Averages

On the 5-minute chart, the 20- and 50-period moving averages both turned downward during the midday sell-off. The daily 50/100/200 SMAs remain bearish, suggesting continuation of the downward trend is likely.

MACD & RSI

MACD turned negative and diverged from the price during the last leg down. RSI dropped into oversold territory near 30, hinting at a potential short-term bounce. However, momentum remains weak, and a sustained rebound is uncertain.

Bollinger Bands

Volatility expanded as the bands widened during the price drop. Price closed near the lower band at $6.21, with a potential bounce likely if it holds.

Volume & Turnover

Volume spiked during the breakdown below $6.50 and again near the daily low at $6.06. Turnover diverged slightly with volume, indicating some selling pressure may be exhausting.

Fibonacci Retracements

The 61.8% Fibonacci level at $6.29 provided key support, while the 38.2% level at $6.44 may serve as a near-term resistance if buyers enter.

Over the next 24 hours, a test of the $6.21 support could trigger a rebound toward $6.35–$6.40, but a break below $6.15 may extend the decline. Investors should remain cautious and watch for volume confirmation of any reversal.