Market Overview for Metis/Tether (METISUSDT): 24-Hour Analysis

• Price declined 5.9% over 24 hours, breaking below key support at 16.13.
• High volume selling pressure emerged after 17:15 ET, accelerating the downward move.
• RSI hit oversold territory (29) near close, suggesting potential short-term rebound.
• Bollinger Bands widened, signaling rising volatility and increased directional uncertainty.
• A long bearish engulfing pattern formed near 16.25, confirming downward momentum.

Metis/Tether (METISUSDT) opened at 16.32 on 2025-09-13 12:00 ET and closed at 15.64 at 12:00 ET on 2025-09-14. The 24-hour low reached 15.58, while the high hit 16.41. Total traded volume was 38,214.166 METIS, with a turnover of $632,557. The pair displayed a bearish bias with a sharp sell-off after 17:15 ET.

Structure & Formations

The 24-hour candlestick chart of METISUSDT showed a long bearish trend, with key support levels forming at 16.13 and 15.93, while 16.33–16.35 acted as a strong resistance cluster. A bearish engulfing pattern was observed at 16.25 on 17:00 ET, confirming the shift in momentum. Additionally, a doji formed near 16.35, signaling indecision after a brief rebound. A breakdown below 16.13 increased the probability of a test at 15.93 and potentially 15.80.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed below the 50-period moving average just before the sharp sell-off, forming a death cross. For the daily timeframe, the 50-period MA is at 16.12, the 100-period at 16.19, and the 200-period at 16.33, reinforcing a bearish bias. Price is currently below all three, indicating a continuation of the downtrend may be more likely than a reversal.

MACD & RSI

MACD turned negative after 17:15 ET, with the histogram shrinking after the initial sell-off, indicating weakening momentum. RSI dropped to 29 by the close, entering oversold territory, which may suggest a potential short-term bounce could occur. However, RSI has not yet crossed back above 30, and without a strong rejection at key support levels, a rebound may be limited.

Bollinger Bands expanded during the sell-off, indicating rising volatility. Price closed near the lower band, reinforcing the bearish momentum. A retest of the 15.64 level could lead to a bounce toward the middle band, but without a strong reversal pattern, the downtrend remains intact.

Volume & Turnover

Volume spiked to over 3,082 METIS at 17:15 ET, coinciding with the sharp sell-off that pushed price below 16.13. Turnover increased alongside the price action, confirming the bearish pressure. Later in the session, a divergence emerged between price and volume as turnover declined while price continued to fall, suggesting exhaustion. However, this was followed by renewed selling pressure during the final hour, indicating strong bearish conviction.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from 16.35 to 15.58, the 61.8% level is at 15.87, which aligns with the 50-period MA. The 38.2% retracement is at 16.03, which coincides with a prior support level. For the daily timeframe, a breakdown below 16.13 (38.2% retracement) increases the likelihood of a test at 15.93 (61.8% retracement) and possibly 15.80 (100% retracement).

Backtest Hypothesis

A potential backtesting strategy could involve identifying bearish engulfing patterns followed by a break of the 20-period moving average on the 15-minute chart. This would signal a short entry with a stop above the pattern’s high and a target at the nearest Fibonacci level. Given the recent action, such a strategy would have captured the 17:00 ET sell-off and potentially extended the move toward 15.93. However, the divergence between volume and price at the end of the session suggests caution — a retest of 15.64 could either confirm a bounce or accelerate the decline further.