Metis Technical Analysis: Price Spikes by 37.02%
Table of contents
Key Technical Points
MTS Past Performance
In the last 24 hrs, the MTS token has seen a price increase of 37.02%. This is in line with the general market trend as most digital assets are seeing an uptick in prices. MTS has been one of the more volatile tokens in recent weeks, however, it has still managed to outperform many of its peers. Looking at the daily chart, we can see that the MTS token has been in an uptrend since mid-March. The price has climbed from $0.002 to its current price of $0.005479. The token has seen a few corrections along the way but the overall trend has been positive.
Source: Trading View
MTS Technical Analysis
The MTS token is currently trading above its 50-day and 200-day moving averages, which is a bullish sign. The RSI is at 36which indicates that the token is oversold and could see a rebound in price. The MACD is also in bullish territory, which suggests that the momentum is in favor of the bulls. While the MACD bars are short and green, they are still above the signal line which is a positive sign.
The MTS token has resistance at $0.006, $0.0065, and $0.007 levels. If the price can break out of these levels, we could see a further rally in prices. On the downside, support levels are at $0.005, $0.004, and $0.0035 levels. The Bollinger bands are tight which suggests that the price is due for a breakout. If the price breaks to the upside, we could see a rally to $0.007 levels. However, if the price breaks to the downside, we could see a move to $0.004 levels.
Overall, the technical indicators are aligned with the current market trend, which is positive. The MTS token is oversold and due for a rebound. However, the price action will need to confirm the bullish setup before we can get too optimistic.
Metis Upcoming Trend
Metis is on a bullish trend as the market is on an upward trend. Investors are seeing the potential in Metis because of its recent price increase. The market is expected to be bullish in the next few days. Metis has the chance to break out and go to $0.007 levels. However, if the price breaks down, we could see a move to $0.004 levels.