Market Overview for Metis/Tether (METISUSDT) on 2025-12-28

Summary
• Price fluctuated within a 5.85–5.96 range, with 5.92–5.93 as key support/resistance.
• Volume and turnover spiked at 02:15 and 10:30 ET, but price failed to break above 5.93.
• RSI remained neutral, while Bollinger Bands showed moderate volatility with price near the midline.

Metis/Tether (METISUSDT) opened at 5.96 on 12:00 ET-1, reaching a high of 5.96 and a low of 5.85 before closing at 5.86 as of 12:00 ET. Total volume for the 24-hour window was 12,644.567 units, with a notional turnover of approximately $74,844.25.

Structure & Formations

Price action displayed a bearish bias after failing to hold above the 5.93–5.94 resistance cluster, forming several lower highs and bearish engulfing patterns during early morning trading. A doji appeared at 05:45 ET, signaling indecision before a bearish breakdown at 11:30 ET, where price broke below 5.89 with confirmation on volume.

Moving Averages and Momentum

Short-term 20/50 EMAs on the 5-minute chart crossed bearishly below price, reinforcing the downtrend. RSI hovered in the neutral range between 45–55, lacking strong overbought or oversold signals. MACD showed a shrinking bullish histogram, with the line dipping below the signal line after 08:00 ET, indicating fading momentum.

Volatility and Bollinger Bands

Volatility expanded during the 10:00–11:30 ET window, with price breaking below the lower Bollinger Band at 11:30 ET. This suggests a possible continuation of the downward move, but a retest of the 5.89–5.91 range may offer short-term support before a larger move lower could take shape.

Volume and Turnover Divergence

Turnover spiked sharply at 02:15 and 10:30 ET, yet price failed to make a sustained break above 5.93 in either instance. This divergence suggests waning bullish conviction, with the bearish breakdown at 11:30 ET being volume-confirmed.

Fibonacci Retracements

The recent swing from 5.85 to 5.96 saw a 61.8% retracement at 5.91, which coincided with a minor bounce. On the daily chart, a 50% retracement of the longer-term move may offer a potential pivot zone near 5.92–5.93 in the next 24 hours.

Price may test 5.85 as the next major support, with a rebound possible if it holds. However, a break below 5.85 could accelerate the downtrend. Investors should watch for volume confirmation on any near-term bounces.