Metis/Tether Market Overview: Bullish Momentum and Volatility Expansion on 15-Min Chart

• Price rose from $13.73 to $14.18 on strong volume in late ET hours, forming a bullish reversal pattern.
• RSI reached overbought levels near 70, while MACD crossed into positive territory with strong momentum.
• Bollinger Bands widened during the rally, suggesting rising volatility and potential for a continuation or consolidation.
• Volume surged in the final 3 hours, aligning with the price increase, indicating strong buying interest.
• Fibonacci retracement levels at $14.14 (61.8%) acted as a key resistance before the final breakout.

Metis/Tether (METISUSDT) opened at $13.73 on 2025-10-02 at 12:00 ET and closed at $14.18 by the same time on 2025-10-03. The 24-hour high reached $14.27, and the low dropped to $13.66. Total volume traded across the 24-hour period was 108,646.96 units, while notional turnover amounted to approximately $1,494,088. Price action displayed a clear bullish bias, particularly in the final hours, with a decisive breakout from key Fibonacci and prior resistance levels.

Structure and formations on the 15-minute chart revealed a strong bullish bias. After consolidating in a descending triangle pattern between $13.81 and $14.01, price broke out with a bullish engulfing pattern on the 15-minute timeframe at around 14:30–15:00 ET. A doji appeared at $13.97–$13.99, indicating indecision before the final push. Key support levels at $13.80–13.82 held during early consolidation, and resistance levels at $14.06, $14.14 (61.8% Fibonacci), and $14.25 were sequentially tested and broken. Price closed above the 20-period moving average ($13.95), which had acted as a dynamic support line earlier in the day.

Moving averages showed a constructive alignment on the 15-minute chart. The 20-period EMA was at $13.95, while the 50-period EMA sat at $14.00, both below the current price, confirming bullish momentum. On the daily chart, the 50-period SMA (not explicitly calculable from 15-min data) would likely be near $13.90–$13.95, with the price above it. The 200-day SMA (longer-term benchmark) likely sits lower, suggesting a medium-term bullish bias. This alignment supports a continuation of the current upward trend unless price closes below the 50-period EMA on a daily timeframe.

The MACD (12,26,9) crossed above the zero line during the final 4 hours of the 24-hour window, with positive divergence in the histogram indicating growing bullish momentum. The RSI (14) briefly entered overbought territory, peaking near 70 during the final 15-minute candles, but did not trigger an immediate reversal. Bollinger Bands widened significantly from 18:00 to 16:00 ET, with price closing near the upper band, suggesting strong volatility and potential for further extension. Price action appears to have been supported by a contraction in volatility earlier in the day, now followed by a decisive breakout and expansion.

Backtest Hypothesis
The recent price action aligns with a potential breakout strategy that would have entered long upon the close above the $14.14 Fibonacci 61.8% level and the 50-period EMA. A stop-loss could have been placed below the doji at $13.80–$13.90, with a target at $14.27 or higher. Given the strong volume and MACD confirmation, the strategy could be backtested using a 15-minute candlestick entry rule, with exits based on either EMA divergence or RSI overbought levels. This approach would be suitable for short-term traders aiming to capitalize on sharp, volume-confirmed breakouts in volatile altcoin pairs like METISUSDT.