Market Overview for Metis/Tether (METISUSDT): Volatility and Reversal Signals Emerge

Summary
• Price tested key resistance at $5.35-5.40, with mixed follow-through above.
• Volatility spiked early, then compressed into consolidation near $5.20.
• Late-day volume surge suggests potential reversal, but momentum remains bearish.
• RSI indicates oversold conditions, hinting at potential rebound, but support is fragile.
• Bollinger Bands show a tightening range, with price near the lower band at 09:45 ET.

Metis/Tether (METISUSDT) opened at $5.3 on 2026-01-07 12:00 ET, reached a high of $5.41, a low of $5.14, and closed at $5.16 as of 2026-01-08 12:00 ET. The 24-hour volume was 43,461.31 units, and notional turnover was $233,457.

Structure & Formations

Price moved within a $5.14–$5.41 range, with notable resistance at $5.35–$5.40 and support at $5.20–$5.25. A bearish engulfing pattern formed around $5.35–$5.30 late in the afternoon, followed by a potential bullish reversal near the $5.14 level. A long lower shadow at 10:15 ET suggests short-term support strength.

Moving Averages and Momentum

Short-term (20/50-period) moving averages on the 5-minute chart show bearish alignment, while daily 50/200-period averages have not yet reversed. MACD turned negative with bearish divergence, while RSI bottomed near oversold territory at 25. This suggests potential for a rebound but with limited upside unless buyers take control above $5.30.

Volatility and Bollinger Bands

Bollinger Bands constricted near the end of the session, with price hovering near the lower band. The earlier high-volatility phase between 17:00–20:00 ET saw a 7% range, suggesting traders may expect a breakout if volume intensifies.

Volume and Turnover

Volume spiked at 07:15 ET (during the $5.14 low) and at 11:15 ET as price tested $5.15. Turnover confirmed the volume spikes, indicating genuine participation rather than wash trading. A divergence between price and volume at the $5.30–$5.35 level suggests weakening momentum.

Fibonacci Retracements

Recent 5-minute swings show a 61.8% retest at $5.27–$5.28, which held during a key 08:30 ET sell-off. Daily Fibonacci levels indicate potential support at $5.15 and resistance at $5.35, with a 38.2% retracement at $5.26 acting as a pivot.

Price appears to be testing critical support levels and may face a near-term bounce unless buyers fail to respond. Investors should monitor $5.25 for a break and keep an eye on volume confirmation during the next session. Risks remain skewed to the downside in the short term unless a sustained rally above $5.35 occurs.