Market Overview for Metis/Tether (METISUSDT) – October 9, 2025

• METISUSDT broke key resistance levels during a bullish breakout in early ET hours, reaching a 24-hour high of $13.29.
• Volatility spiked during 00:00–03:00 ET as price dropped to $12.60, forming a bearish reversal pattern.
• RSI and MACD signaled overbought conditions earlier in the day, followed by divergence and momentum decay.
• Final 6 hours stabilized price near $12.70–$12.80, with volume tapering off.
• Bollinger Bands showed a recent reversion to the mean with tightening volatility post-11:00 ET.

Metis/Tether (METISUSDT) opened at $12.91 on October 8 at 12:00 ET, surged to a high of $13.29, and then fell to a low of $12.60 before closing at $12.75 at 12:00 ET on October 9. Total 24-hour volume amounted to 147,825.52 METIS, and turnover reached $1.95 million, indicating moderate liquidity and price action volatility.

Structure & Formations

Price action on METISUSDT showed a sharp bullish impulse in the early part of the session, breaking above a key resistance level around $13.00. This was followed by a bearish retracement into the $12.60–$12.70 range, where a potential double-bottom pattern may have formed. A bearish engulfing candle appeared at the top of the move near $13.29, suggesting exhaustion among buyers. A key support level emerged around $12.70, which held during the retracement, and the price has since stabilized near this level. A doji formed around 08:00 ET, signaling potential indecision and a possible reversal.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were in bullish alignment during the early part of the session, reinforcing the breakout. However, as the price dropped, the 50-period line crossed below the 20-period line, forming a death cross, which may have signaled a bearish shift. On the daily chart, the 50-period moving average is above the 100- and 200-period lines, indicating a broader bearish trend in the context of a long-term downtrend.

MACD & RSI

MACD remained positive during the bullish breakout in the first part of the session, but began to diverge from price action after the bearish retracement. RSI reached overbought levels (above 70) early in the session, followed by a sharp drop into oversold territory (below 30) during the late-night dip, suggesting exhaustion on both sides of the market. The RSI has since rebounded, but appears to be stabilizing around the neutral zone of 50.

Bollinger Bands

Bollinger Bands reflected a period of high volatility during the bearish leg of the move from $13.29 to $12.60. The price spent much of the session near the lower band, indicating oversold conditions. Since around 11:00 ET, volatility has decreased and the price is trading near the middle band, suggesting a reversion to the mean and a potential consolidation phase.

Volume & Turnover

Volume spiked during the bullish breakout in the early hours of the session and again during the bearish reversal, with the highest turnover recorded at $13.29. This was followed by a significant drop in volume as the price retraced and stabilized around $12.70–$12.80. A divergence between price and volume was evident during the bearish move, with price falling sharply while volume declined, indicating a weakening of the bearish momentum.

Fibonacci Retracements

Fibonacci levels played a key role in the recent price action. The 38.2% and 50% retracement levels from the $12.91 to $13.29 move were tested during the bearish retracement. The price found support at the 61.8% level near $12.70, which coincided with a key psychological level and the doji formation. This level appears to be a critical area of interest for the next 24 hours.

Backtest Hypothesis

Given the bearish engulfing candle, the reversion to the mean near the Bollinger Band middle line, and the Fibonacci support at $12.70, a backtesting strategy could focus on a short-term swing trade setup. A long entry may be triggered on a break above the 61.8% Fibonacci retracement level with a stop loss below the 38.2% level. Alternatively, a short entry could be considered on a break below $12.70, with a stop loss above the 50% level. A combination of RSI and MACD divergence could be used to time entries and exits more precisely.