MET has started wicking violently again. There’s been too much one-way action lately, and it’s easy to get trapped if you’re not careful!! A fan says their long position is trapped at 0.54—can it still get out? Impressive, entering at the highest point.
From the candlestick chart, the earlier high surged to 0.5445, then it immediately formed a series of large bearish candles and broke down sharply. The current price has already moved far away from the previous high.
The small-scale rebound midway through the decline was extremely weak, with no signal of a volume-driven reversal. The bears are fully dominating the market.
The 0.55 level is exactly the historical high of this rally, so it is a strong resistance zone.
🎯 Subsequent market outlook
Short term: The first resistance for the rebound is in the 0.48~0.50 range, and it is hard to directly break through the previous high at 0.55 in one move.
Medium term: After the rebound ends, it will most likely retest the support below again, and may even set a new stage low.
To pull back above 0.55, it would require very strong incremental capital inflow plus major positive news; otherwise, relying only on the current weak rebound will make it hard to#MET
A big wick is needed to release bearish energy before the second surge can begin
From the candlestick chart, the earlier high surged to 0.5445, then it immediately formed a series of large bearish candles and broke down sharply. The current price has already moved far away from the previous high.
The small-scale rebound midway through the decline was extremely weak, with no signal of a volume-driven reversal. The bears are fully dominating the market.
The 0.55 level is exactly the historical high of this rally, so it is a strong resistance zone.
🎯 Subsequent market outlook
Short term: The first resistance for the rebound is in the 0.48~0.50 range, and it is hard to directly break through the previous high at 0.55 in one move.
Medium term: After the rebound ends, it will most likely retest the support below again, and may even set a new stage low.
To pull back above 0.55, it would require very strong incremental capital inflow plus major positive news; otherwise, relying only on the current weak rebound will make it hard to#MET
A big wick is needed to release bearish energy before the second surge can begin