Metis DAO (METIS) Eyes a Breakout

The Metis DAO token has witnessed price gains of 7.07%. While the ongoing session remains below key technical levels, it is at least managing to hold on to its gains. Let’s take a closer look at how high this market may rise.

METIS Market Statistics

Current Price: $9.00

Market Capitalization: $66.46M

Circulating Supply: 6.65M

Total Supply: 10M

CoinMarketCap Rank: 419

Key Price Levels

Resistance: $10.00, $11.00, $12.00

Support: $9.00, $8.00, $7.00

Metis DAO Long Traders Are Making a Bold Stand

With the ongoing session in the METIS daily chart posting modest gains, it appears the market remains below key technical levels. The last green price candle on the chart has formed below the 9-day Exponential Moving Average (EMA), which has served as a resistance for almost two weeks.

At the same time, the lines of the Stochastic Relative Strength Index (SRSI) indicator show an upward bearing, though they appear quite converged. The upward movement looks convincing as both lines of the indicator stand above the 70 mark. Consequently, it seems this market may attempt to breach the resistance formed by the 9-day EMA curve.

METIS Market Has the Basis to Breach the $10 Mark

On the shorter-term Metis DAO chart, price action has risen above the 9-day Exponential Moving Average (EMA) curve. The ongoing session has its base above the 9-day EMA line and remains in the green.

Similarly, the SRSI indicator lines recently completed a bullish crossover in the oversold region, and the resulting lines are now rising upward. Considering this setup, it appears that this market is on its way to resurface above the $10.00 price level shortly.

Make money without lifting your fingers: Start trading smarter today