Metal DAO (MTLUSDT) 24-Hour Market Overview

Metal DAO (MTLUSDT) opened at 0.791 on July 14 at 12:00 ET, reached a high of 0.794 and low of 0.758 before closing at 0.77 on July 15 at 12:00 ET. Total volume exceeded 327,000 MTL, with amount data showing inconsistent formatting. Below is the technical analysis:

Summary

• Price fell 2.3% from 0.794 to 0.758 before rebounding to close at 0.77, highlighting volatility.
• A sharp volume spike at 00:15 ET (July 15) coincided with a 2.2% price drop.
• The 0.77 level acts as key resistance, with a bullish closing candle suggesting potential recovery.

Structure & Formations

The 0.76–0.77 zone appears critical as both support and resistance. A brief dip to 0.758 (July 15 03:15 ET) tested lows before rebounding. The final candle closed above its open (0.77 vs. 0.765), signaling tentative buying interest. No clear engulfing or reversal patterns dominate, though the 12:00 ET close near 0.77 aligns with prior resistance.

Moving Averages

On the 15-minute chart, the 20-period MA (≈0.77) holds near price, while the 50-period MA (≈0.765) suggests a neutral bias. Daily MA50/100 remain bearish, with price below both averages, indicating an overall downward trend.

MACD & RSI

MACD remains in negative territory but showed a slight upward hook in the final hours, hinting at slowing downside momentum. RSI (14) briefly dipped below 30 (oversold) on July 15 but recovered to mid-40s, suggesting no extreme bearish exhaustion yet.

Bollinger Bands

Price hovers near the lower band (≈0.765), reflecting reduced volatility after a contraction. The upper band at 0.775 aligns with resistance, implying a narrow trading range until new momentum emerges.

Volume & Turnover

The largest volume spike (116,774 MTL at 00:15 ET) coincided with a sharp price drop, suggesting profit-taking or news-driven selling. Subsequent volume declined, with the final 15-minute candle trading 7,965 MTL—a moderate level given prior volatility.

Fibonacci Retracements

A 61.8% retracement from the 0.794 high to 0.758 low aligns with 0.77, which price tested twice. A break above this level could signal a shift toward 0.78 resistance, while a breach below 0.76 may target 0.75.

Outlook & Risks

MTLUSDT may consolidate near 0.77, with a potential rebound toward 0.78 if buyers reclaim resistance. However, a sustained drop below 0.76 could trigger further declines toward 0.75. Investors should monitor volume and MA20 crossovers for confirmation. Risks include external crypto market sentiment and news-driven volatility.