$MTL Were you in when it made that huge wick?
Binance MTLUSDT Perp., timeframe *4H*:
Current price:
- *0.2779 USDT +5.03% today*. It’s right at the mark price, so there isn’t much funding.
- 24h range: 0.2593 to 0.3330. Explosive volume: 48M MTL / 13.8M USDT in 24h. That’s a lot for MTL.
What happened on the chart:
That long spike up to 0.3330 you see is a liquidation wick. Someone swept the market, touched the SAR (0.3330), and everything was sold off at once. That’s why there’s a huge green/red volume bar below. It wasn’t a sustained rise; it was a sweep.
Indicators:
- *MA and EMA:* MA7 (0.2690) and EMA7 (0.2701) are below the price, supporting it in the short term. But MA99 (0.2843) and EMA99 (0.2816) are ABOVE it. That’s resistance; the broader trend is bearish.
- *Bollinger:* The price is right up against the upper band (0.2805). The middle band is 0.2712. It’s stretched; normally it returns to the middle band.
- *Supertrend 0.2813:* It’s above the price, signaling that it’s still a sell. If it breaks 0.2813–0.2840 with volume, the trend turns bullish.
- *AVL 0.2708:* Your nearest support.
*General context:*
Today +5%, 7 days +4.47%, but 30 days -15.56% and 1 year -45%. It’s a small coin, very easy to manipulate. These wicks are typical when stops get hunted on perps.
There was a short squeeze; it rose 28% in minutes to 0.3330, then got slammed down. Now it’s trying to hold above 0.27. If it loses 0.2708 / 0.2593, it’ll drop again. If it breaks above 0.2810–0.2840, it could head for 0.30 again.
Don’t jump into a Long/Short trade there recklessly; you can get liquidated in a second. If you trade, use a tight stop below 0.26.
Binance MTLUSDT Perp., timeframe *4H*:
Current price:
- *0.2779 USDT +5.03% today*. It’s right at the mark price, so there isn’t much funding.
- 24h range: 0.2593 to 0.3330. Explosive volume: 48M MTL / 13.8M USDT in 24h. That’s a lot for MTL.
What happened on the chart:
That long spike up to 0.3330 you see is a liquidation wick. Someone swept the market, touched the SAR (0.3330), and everything was sold off at once. That’s why there’s a huge green/red volume bar below. It wasn’t a sustained rise; it was a sweep.
Indicators:
- *MA and EMA:* MA7 (0.2690) and EMA7 (0.2701) are below the price, supporting it in the short term. But MA99 (0.2843) and EMA99 (0.2816) are ABOVE it. That’s resistance; the broader trend is bearish.
- *Bollinger:* The price is right up against the upper band (0.2805). The middle band is 0.2712. It’s stretched; normally it returns to the middle band.
- *Supertrend 0.2813:* It’s above the price, signaling that it’s still a sell. If it breaks 0.2813–0.2840 with volume, the trend turns bullish.
- *AVL 0.2708:* Your nearest support.
*General context:*
Today +5%, 7 days +4.47%, but 30 days -15.56% and 1 year -45%. It’s a small coin, very easy to manipulate. These wicks are typical when stops get hunted on perps.
There was a short squeeze; it rose 28% in minutes to 0.3330, then got slammed down. Now it’s trying to hold above 0.27. If it loses 0.2708 / 0.2593, it’ll drop again. If it breaks above 0.2810–0.2840, it could head for 0.30 again.
Don’t jump into a Long/Short trade there recklessly; you can get liquidated in a second. If you trade, use a tight stop below 0.26.