Market Overview for Metis/Tether (METISUSDT): A 24-Hour Recap and Technical View

• Price declined 12.8% in 24 hours amid bearish momentum, forming a 13.07–12.85 consolidation range.
• RSI hit oversold territory, while volume spiked at 61.8% Fibonacci level suggesting potential reversal.
• Bollinger Bands contracted during late-night lows, with price near lower band, signaling a possible rebound.
• Recent bullish candlestick patterns emerged near 13.00, suggesting short-term support could hold.
• Turnover spiked sharply during early morning break below 13.00, raising concerns about weak hands capitulating.

Opening and Daily Price Action

At 12:00 ET–1 on September 24, 2025, Metis/Tether (METISUSDT) opened at $13.61 and traded as high as $13.64 before declining to a 24-hour low of $12.60 by 12:30 ET on the 25th. The asset closed at $12.90 at 12:00 ET–25. The total volume across the 24-hour period amounted to 35,439.668 METIS, while the notional turnover reached $451,450.65 USD. The price action suggests a bearish sentiment, with prolonged selling pressure evident in the early hours of September 25.

Structure and Key Levels

The 15-minute chart reveals a descending pattern, with notable resistance forming at the 13.38–13.44 level, a zone that previously failed to hold price during late-night sell-offs. Below, key support appears to be forming around $12.84–12.90, where price found a temporary floor multiple times. A bearish engulfing pattern was observed at $13.00–12.95 during the early morning, followed by a doji at $12.92, indicating indecision in the market. The price may test 12.75 as the next potential support level, with a breakdown below $12.65 likely to trigger further bearish momentum.

Short and Long-Term Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have remained in a descending trend, with price closing below both for much of the period. This aligns with a bearish bias. On the daily timeframe, the 50-day and 100-day moving averages have diverged, with price moving beneath both, reinforcing the bearish narrative. The 200-day MA remains distant, but its proximity could become relevant if the bear trend continues.

Momentum and Volatility Indicators

The RSI has dipped into oversold territory below 30, hinting at a potential short-term rebound. However, the MACD remains bearish, with the line below the signal line and in negative territory. Bollinger Bands contracted sharply during the early hours of September 25, with the price near the lower band at the time of the 12.60 low, suggesting a potential rebound from this level. The recent divergence between price and volume also warrants attention, as it may signal either a continuation or a reversal.

Volume and Turnover Dynamics

Volume spiked during the morning break below $13.00, reaching a peak of 6,808.53 METIS at 12:30 ET on the 25th, coinciding with a sharp drop to $12.70. Notional turnover mirrored this increase, with a peak of $87,700 at the same time. The divergence between bearish price action and high volume during the morning break suggests capitulation from weak hands. However, the subsequent consolidation and lower turnover suggest traders are awaiting further catalysts.

Fibonacci Retracement Levels

On the 15-minute chart, the most recent swing high at $13.64 and swing low at $12.60 form a Fibonacci range. Price tested the 61.8% level ($12.93) during early morning hours and bounced slightly, suggesting this level could act as a short-term support. The 50% level at $13.12 remains a key resistance. On the daily chart, a 61.8% Fibonacci level at $12.78 could become relevant if the bearish trend continues.

Backtest Hypothesis

Based on the observed bearish momentum, a potential short-term trading hypothesis involves entering a long position on a pullback to the 61.8% Fibonacci level at $12.93 with a stop-loss placed below $12.75, aiming to capture a bounce off oversold RSI and a potential rebound within the Bollinger Bands. This approach would align with the identified short-term support and the recent divergence in volume and price. Alternatively, a short bias could be triggered if price breaks below $12.84 and confirms with a close under $12.75, targeting the next Fibonacci level at $12.62.