Summary
• Price surged past $6.20, reaching $6.33 before consolidating near $6.25.
• Volume spiked during the afternoon with a 3.2x increase between 19:15 and 20:45 ET.
• RSI hit overbought levels, suggesting potential pullback risk.
• Bollinger Bands widened post-noon, indicating rising volatility.
• A bullish engulfing pattern emerged at 21:45, followed by a key breakout at $6.25.
Market Overview
Metis/Tether (METISUSDT) opened at $6.02 on 2025-12-12 12:00 ET, surged to a high of $6.33, dipped to a low of $6.17, and closed at $6.25 on 2025-12-13 12:00 ET. Total trading volume for the 24-hour window was 42,372.26
, with notional turnover of approximately $259,717.
Structure & Formations
A key support level formed around $6.20, where price found repeated buying interest.
A bullish engulfing pattern at $6.25 on 21:45 ET signaled potential upward momentum. Resistance appears to be forming near $6.33, where price tested this level twice but failed to break decisively above it.
Moving Averages
On the 5-minute chart, the 20-period MA crossed above the 50-period MA at ~$6.22, reinforcing a short-term bullish bias. The 200-period daily MA remains at ~$6.10, suggesting that the broader trend remains supportive for longs.
MACD & RSI
The MACD histogram widened in the afternoon, confirming the strength of the rally. RSI peaked at 72, entering overbought territory and signaling caution. A pullback into the $6.20–$6.25 range could set up for a potential test of $6.33 if bullish volume returns.
Bollinger Bands
Bollinger Bands expanded after 12:00 ET as volatility increased, with price reaching the upper band at $6.33. Price currently resides near the middle band at ~$6.25, indicating a potential consolidation phase ahead.
Volume & Turnover
Volume surged 3.2x from 19:15 to 20:45 ET, confirming the $6.25–$6.33 rally. Notional turnover increased by 2.8x during the same period. Divergence between price and volume appeared in the late hours, suggesting caution ahead of a potential reversal.
Fibonacci Retracements
On the 5-minute chart, the 61.8% retracement level of the $6.02–$6.33 move sits at $6.22, which coincided with the 21:45 ET bullish engulfing pattern. This level appears to be providing strong support for the near term.
The price appears to be consolidating ahead of a potential retest of key resistance. Traders may watch for a decisive move above $6.33 to confirm the next leg higher. However, a break below $6.20 could trigger a short-term correction. Investors are advised to stay cautious and monitor volume for confirmation of the next directional move.
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