Summary
•
formed a bullish engulfing pattern near key support at $5.10–$5.11.
• Volatility expanded after 22:00 ET, with price breaking above the 5.15–$5.16 resistance cluster.
• RSI signaled oversold conditions before 05:00 ET, followed by positive divergence.
Metis/Tether (METISUSDT) opened at $5.19 on 2026-01-12 12:00 ET, reached a high of $5.23, a low of $5.05, and closed at $5.19 by 12:00 ET on 2026-01-13. The 24-hour trading volume was 74,086.195, with a total notional turnover of $394,472.63.
Structure & Formations
The price found firm support at $5.10–$5.11, where a bullish engulfing pattern emerged following a sharp decline. Buyers regained control in the early hours, pushing price through key resistance levels at $5.15–$5.16. A potential bearish reversal pattern appeared near $5.23, with a rejection candle forming after a sharp rally.
Moving Averages
On the 5-minute chart, the 20-period and 50-period SMAs converged around $5.14–$5.16, supporting the recent bullish breakout. The 50-period SMA appears to be acting as a dynamic support level in the consolidation phase after 07:00 ET.
MACD & RSI
The MACD turned positive after 05:00 ET, confirming the bullish momentum shift. RSI bottomed at ~28 near the $5.05 level, followed by a positive divergence suggesting a possible trend reversal. RSI has since pulled back into neutral territory, indicating balanced pressure.
Bollinger Bands
Volatility expanded significantly between 22:00 ET and 07:00 ET, with price moving above the upper Bollinger Band on the 5-minute chart. The 20-period Bollinger Band width reached a 24-hour peak just before the $5.23 high, signaling heightened short-term uncertainty.
Volume & Turnover
Turnover spiked sharply after 22:00 ET, confirming the price breakout above the $5.15–$5.16 resistance. Volume remained elevated during the bullish move, with a 5-minute candle at 11:45 ET showing the highest turnover of $33,054.06. Price and turnover aligned well during this phase, indicating strong institutional or large-cap buyer activity.
Fibonacci Retracements
The recent $5.05–$5.23 swing has defined a 61.8% retracement level at $5.15–$5.16, which has acted as both a support and a pivot level. The 38.2% retracement at $5.18 also saw strong price interaction, with candles forming around this level in the late hours.
The market appears to be testing the strength of the $5.15–$5.16 support-turned-resistance zone and could see renewed volatility if buyers re-enter near the 20-period SMA. A break below $5.10 would reintroduce risk, suggesting caution for near-term long positions.
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