$MET fell 25% in four days, with trading volume shrinking to 3% of its peak. The bears are grinding the bulls into the ground.
First, the chart. It was trading sideways at 0.29 on October 5, then surged to 0.5445 on October 8 with a massive bullish candle. The biggest gain among the 30 4-hour candles came on the 10-07 16:00 candle: it jumped from 0.33 to 0.43, with $125 million in volume. Then came four consecutive bearish candles, knocking the price down from 0.4545 to 0.4014. Today's low was 0.406, just a step above the previous low of 0.4014. The current price is 0.4087, down 5.11% over 24 hours.
Support is at 0.4014, resistance at 0.4781. There's nearly 17% between them—stuck in no-man's-land.
The volume-price structure is the most interesting part. The 10-08 04:00 candle had a volume of $174 million, the highest of the 30 candles. After that, volume declined steadily: $109 million → $45 million → $11 million → $20 million → $19 million → $27 million → $11 million → $8.3 million → $4 million → $1.3 million. The volume ratio is 0.03, a tiny fraction of the average for the previous 20 candles. This kind of decline in volume could mean one of two things: selling pressure is fading, or the bulls have completely given up.
For the big players' moves, look at the funding rate. At -0.0156%/8h, it's negative but not by much, which means the shorts are paying the longs. If short sellers are willing to pay to hold their positions, either they're confident the price will keep falling or they're hedging spot holdings. Either way, the bears are currently in control.
As for market sentiment, the rally from 0.29 to 0.54 was close to 90%, leaving plenty of profits to take. The upper wick on the 10-08 08:00 candle was a full $0.073 long (0.5445-0.4714)—a classic rejection after a sharp run-up. Since then, each candle's high has been lower: 0.4781→0.4536→0.4445→0.4514→0.4583→0.455→0.431→0.4187→0.4135→0.4128. Lower highs all the way down—that's a textbook downtrend.
Candle details: the last three 4-hour candles have had small bodies and narrowing ranges. The 10-09 20:00 candle had a range of just $0.012 (0.4135-0.4014), and the 10-10 00:00 candle's range was $0.007. Volatility has compressed to an extreme, which usually means a breakout or breakdown is near. The direction, though, is uncertain.
There's not much information available about the MET project itself. But looking at the chart, the early-October rally came with huge volume, suggesting new money likely entered the market. The price is now pulling back on declining volume. If 0.4014 holds, it could form a double bottom. If it doesn't, 0.2853 is the absolute low of the 30 candles, leaving another 30% downside.
Nini's plan:
Current price: 0.4087.
Bearish bias. The reasoning is simple: the trend is down, highs are falling, and shorts are paying to hold positions. But 0.4014 is support, and volume has dried up dramatically, so chasing shorts isn't a great risk-reward trade.
If going long, wait for the price to stabilize around 0.4014 on rising volume before considering an entry. Set a stop-loss at 0.395 and target 0.44. If going short, wait for a rebound into the 0.43-0.44 range before entering. Set a stop-loss at 0.455 and target 0.40.
If there's no clear setup, stay on the sidelines. Don't gamble on direction during a low-volume decline.
For a customized strategy, reach out to Nini.
#MET #合约 #TrendFollowing
First, the chart. It was trading sideways at 0.29 on October 5, then surged to 0.5445 on October 8 with a massive bullish candle. The biggest gain among the 30 4-hour candles came on the 10-07 16:00 candle: it jumped from 0.33 to 0.43, with $125 million in volume. Then came four consecutive bearish candles, knocking the price down from 0.4545 to 0.4014. Today's low was 0.406, just a step above the previous low of 0.4014. The current price is 0.4087, down 5.11% over 24 hours.
Support is at 0.4014, resistance at 0.4781. There's nearly 17% between them—stuck in no-man's-land.
The volume-price structure is the most interesting part. The 10-08 04:00 candle had a volume of $174 million, the highest of the 30 candles. After that, volume declined steadily: $109 million → $45 million → $11 million → $20 million → $19 million → $27 million → $11 million → $8.3 million → $4 million → $1.3 million. The volume ratio is 0.03, a tiny fraction of the average for the previous 20 candles. This kind of decline in volume could mean one of two things: selling pressure is fading, or the bulls have completely given up.
For the big players' moves, look at the funding rate. At -0.0156%/8h, it's negative but not by much, which means the shorts are paying the longs. If short sellers are willing to pay to hold their positions, either they're confident the price will keep falling or they're hedging spot holdings. Either way, the bears are currently in control.
As for market sentiment, the rally from 0.29 to 0.54 was close to 90%, leaving plenty of profits to take. The upper wick on the 10-08 08:00 candle was a full $0.073 long (0.5445-0.4714)—a classic rejection after a sharp run-up. Since then, each candle's high has been lower: 0.4781→0.4536→0.4445→0.4514→0.4583→0.455→0.431→0.4187→0.4135→0.4128. Lower highs all the way down—that's a textbook downtrend.
Candle details: the last three 4-hour candles have had small bodies and narrowing ranges. The 10-09 20:00 candle had a range of just $0.012 (0.4135-0.4014), and the 10-10 00:00 candle's range was $0.007. Volatility has compressed to an extreme, which usually means a breakout or breakdown is near. The direction, though, is uncertain.
There's not much information available about the MET project itself. But looking at the chart, the early-October rally came with huge volume, suggesting new money likely entered the market. The price is now pulling back on declining volume. If 0.4014 holds, it could form a double bottom. If it doesn't, 0.2853 is the absolute low of the 30 candles, leaving another 30% downside.
Nini's plan:
Current price: 0.4087.
Bearish bias. The reasoning is simple: the trend is down, highs are falling, and shorts are paying to hold positions. But 0.4014 is support, and volume has dried up dramatically, so chasing shorts isn't a great risk-reward trade.
If going long, wait for the price to stabilize around 0.4014 on rising volume before considering an entry. Set a stop-loss at 0.395 and target 0.44. If going short, wait for a rebound into the 0.43-0.44 range before entering. Set a stop-loss at 0.455 and target 0.40.
If there's no clear setup, stay on the sidelines. Don't gamble on direction during a low-volume decline.
For a customized strategy, reach out to Nini.
#MET #合约 #TrendFollowing