Metal DAO (MTLUSDT) Market Overview

• MTLUSDT rose from 0.842 to 0.876 over 24 hours, with a 61.8% retracement at 0.867 acting as key resistance.
• Strong volume expansion occurred during the 07:30–09:00 ET window, confirming a bullish breakout above 0.862.
• RSI reached overbought territory (70+), suggesting potential near-term profit-taking.
• A bullish engulfing pattern formed at 06:30 ET, signaling a reversal from a 12-hour decline.
• Volatility expanded with a 3.6% range (0.842–0.876), indicating heightened interest in MTLUSDT.

Market Overview

Metal DAO (MTLUSDT) opened at 0.842 on 2025-07-20 at 12:00 ET and closed at 0.865 by 12:00 ET on 2025-07-21, reaching a high of 0.876 and a low of 0.842. Total volume over 24 hours was 517,147.8 units, with a notional turnover of approximately $438,260 (assuming average price of $0.85).

Structure & Formations

The 24-hour chart shows a clear bullish trend with key support at 0.852 and resistance at 0.867. A bullish engulfing pattern formed at 06:30 ET, confirming a reversal from a 12-hour consolidation phase. A doji appeared at 04:30 ET, indicating indecision near 0.863.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed above the 50-period line at 07:30 ET, reinforcing the bullish breakout. The 50-period daily MA is at 0.858, and the 200-period MA is at 0.847, suggesting the pair is above its long-term average and in a bullish phase.

MACD & RSI

The MACD turned positive at 07:30 ET and remained in bullish territory for most of the 24-hour period, with a strong histogram peak at 07:30–08:15 ET. RSI peaked above 70 during the 14:30–15:00 ET window, indicating overbought conditions and a potential pullback.

Bollinger Bands

Volatility expanded significantly during the 07:30–09:00 ET period, with price breaking above the upper band at 0.867. The bands were narrow before 07:30 ET, indicating a period of consolidation before the breakout. Price remains near the upper band, suggesting continued bullish momentum.

Volume & Turnover

Volume surged at 07:30 ET, with 35,004.4 units traded in a single 15-minute interval, coinciding with the breakout above 0.862. Turnover spiked during this period as well, confirming the move. No significant divergence was observed between price and volume during the session.

Fibonacci Retracements

A 38.2% retracement level at 0.858 was tested and held during the 09:00–10:00 ET period. The 61.8% retracement at 0.867 served as a key resistance level, with price testing it twice before confirming a breakout.

Metal DAO appears to be in a strong bullish phase, with technical indicators and volume confirming the recent upward move. While the overbought RSI suggests a short-term pullback could occur, the broader trend remains intact. Investors should monitor the 0.867–0.870 range for potential consolidation or a break higher. As always, volatility and market sentiment may shift rapidly in crypto markets.