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Metis

$METIS - Another chance to load up...SEED_DONKEYDAN_MARKET_CAP:METIS showing some weakness here, part of market wide pressure - Obviously fundamentals remain strong but there is a large gap from $46 to $66 that looks like it could get filled. Price currently hovering around the EMA 50 on the daily, trying to find support, however price action appear weakening. We may see a bounce again but I think we head lower. Over the gap on the $46 to $66 there are two supports, on at $65 and one at $50. Both would be opportunities to buy back in. However if we wick down to one or the other I suspect there will be some infill subsequently allowing a repeat entry. This is an opportunity to assess SEED_DONKEYDAN_MARKET_CAP:METIS eco project, identify your potential entries and wait.
by Flyte-X
$METIS update. This thing is going to blow up!KUCOIN:METISUSDT - has been on an excellent run, getting in at $20 was a good investment - however, worth keeping in mind that there are going to be pullbacks, and if you're actively trading this (*I am 50%) then we are coming up to a useful moment. What larger players are looking for are liquidity levels into which they can either buy or sell. The last MAJOR liquidity gap - was at around $97 - hence notable that as we were driving hard over the christmas period, price pipped that level and then immediately sold down to the nearest support - i.e around $75, consolidated, accumulated then pushed up again. We're approaching another TWO levels, and have almost pipped one of them (*see blue box) but given the traction $METIS is getting I see up pushing through these over the next few days. A decent pullback to major resistance at $105 would then be on the cards. Before a further push up. Of course there are many independent variable here, narratives are key (Metis EDF launch, sequencer mining launch, who gets what support from the DAO etc, but broader the $BTC/$ALTcoin differential and "pre-halving pullback" bears...) but thats how I'm playing it. However be aware, that as TVL has rapidly ticked up so has the possibility of MAJOR players moving in to screw with the system. Could see a MASSIVE push up, taking out everyones stops and then a pullback. If you don't want to miss out I would suggest holding a spot bag in a cold wallet. In meantime, there is $METIS beta to be had, ecosystem tokens are flying - but with excellent volatility. Meme tokens are fine but personally I like anything with reflections in Ecosystem tokens - MCC (MetisChainCapital / metischain.capital) is a good one, or obviously $HERMES which is the next major narrative with the V2 launch... Good hunting
Long
by Flyte-X
$METIS getting ready to push upGATEIO:METISUSDT - Okay so as suspected we "just" pipped the first of the two liquidity levels before falling back (*blue box). I have to say was caught a little off guard here, expected it to run a little higher and so was washed out of some trades. There were three levels of support that I was watching, the first was at the confluence of the 8H EMA20 - around $110, lost that quickly, next up was the 8H EMA50 which was coincident with the prior resistance around $95, lost again. Finally we have found support, at the 8h 100 EMA - the strongest so far and seeing a bounce here (*lower green box) Depending on some larger market factors if we see a push now I would expect either a rapid run to the higher of those two liquidity levels (*blue box) a consolidation and push to next major resistance in the $150 region (*blue line) else a sluggish recovery tapping every S/R on route. Fundamentally though (*and I hate the word "fundamentals" in crypto) we are still golden here. > Sequence testing going well > $500M + EDF live and participants soon to be announced ($HERMES on Maia is a good play) > Remains particularly undervalued compared to peer competitor chains Strongly recommend buying and holding, if you're underwater - patience will turn your play around. If you're leveraged - probably worth converting to SPOT $METIS eco plays are cheap now and expect their upside on recovery to be proportionally larger as well. I remain in EURONEXT:MCC (MetisChainCapital) I am flipping some $METIS for $HERMES at each support level - there is going to be a moment in the not too distant future where that V2 narrative becomes the driver - and want to be in for the run up. Good Hunting
Long
by Flyte-X
$METIS - Consolidating - looking good!GATEIO:METISUSDT has as proposed flipped ~$80 prior resistance to support and is now sitting in a tight accumulation pattern. Looking at the weekly chart - we are sitting around a long term S/R - Upcoming market dynamics - be that the full announcement of community sequencing activity, the EDF details, $HERMES V2 concentrated liquidity set up - are all quite bullish. When we push up I am looking first to see the FV Gap at around $130 get taken before a pullback to distribute prior to another push towards the heavy duty S/R in the $160's The timeframe for this is quite variable, and given how much excitement and OI is forming around the Andromeda chain, quite possible to see some market maker shenanigans - i.e. some heavy dumping on the way up to mop up some of the leveraged capital that is sloshing around. Personally - I'm looking for a Q1 target price of $130-160 - which would mark a 100% return if you only entered here. Is there a possibility that we get a pullback to the $60's - yes absolutely but Risk : Reward here is skewed toward spot $METIS and ecosystem rewards during these fluctuations. Providing volatile liquidity to $HERMES:$METIS for example (hermes.maiadao.io) is providing an ample (non-boosted) APR around 102% whilst this plays out. Using leverage on $METIS at the moment seems like a fools errand. Good Hunting
Long
by Flyte-X
SasanSeifi 💁‍♂METIS/ USDT DAILY Hey there! By analyzing the METIS chart on the daily timeframe, as you can see, the price has shown positive fluctuations from the support zone at $11. With the candlestick behavior, one could anticipate that following minor oscillations and maintaining the order block range of $11.80 / $11.50, we can consider price targets of $14 and $15 in the supply zone. ✨What's your opinion? Do you agree? 🔵Remember, always conduct your own analysis and consider other factors before making any trading decisions. Good luck!"✌️ ❎ (DYOR)...⚠️⚜️ Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help! if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌✌
Long
by SasanSeifi
METIS Surges After Announcement of Ecosystem Development Fund The Ethereum Layer 2 scaling protocol Metis has dedicated 4.6 million $METIS tokens toward the new Metis Ecosystem Development Fund. The Fund will begin disbursing grants in the first quarter of 2024. The Metis Ecosystem Development Fund was allotted 4.6 million METIS, worth over $100 million, that will be used to fund grants for dApps, sequencer mining and other product development projects, the protocol said in a statement. Metis will begin giving out funding starting in the first quarter of 2024. Metis aims to be the first fully decentralized Ethereum Layer 2 by the end of 2023.
COINBASE:METISUSDLong
by DEXWireNews