Metis DAO (METIS) Stays Near Its Annual Low

The Metis DAO token has recorded an upward bounce of 2.70% as of today. This comes as the token trades near its annual low. However, price activity remains below key technical levels and still needs to gather more momentum to stage a more convincing upward movement.

Metis Market Statistics

Current Price: $12.96

Market Capitalization: $84.59M

Circulating Supply: 6.59M

Total Supply: 10M

CoinMarketCap Rank: 421

Key Price Levels

Resistance: $15.50, $17.50, $20.00

Support: $12.00, $9.50, $7.00

Metis DAO Market Stays Subdued

The METIS/USDT market has rebounded with the appearance of a green price candle in the ongoing session. This candle, however, remains below the 9-day Exponential Moving Average (EMA) line, which technically affirms that the market is still in bearish territory.

Meanwhile, the Stochastic Relative Strength Index (SRSI) indicator lines are positioned above the 50 level but are trending downward. Consequently, this confirms that bullish forces still need to deliver a convincing push to generate strong buying sentiment in this market.

METIS Bulls Seem Ready to Fight On

The Metis DAO 4-hour chart offers a closer view of price movement. Here, it is evident that price action remains under the influence of mild bullish sentiment. The last two candles are green, indicating renewed upward interest.

The previous session showed stronger bullish momentum, while the current session has also started on a positive note. Although the progress remains modest, it still reflects improving sentiment.

Meanwhile, the SRSI lines have delivered an upward crossover, with both lines now rising steadily from the oversold region. Technically, this suggests that traders might need to wait for further confirmation before expecting the market to advance toward the $15 mark.

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