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BCH $545.39 (3.54%)
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BNB $378.51 (4.55%)
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DOGE $0.22 (5.19%)

Metis Technical Analysis — How Much Will METIS be Worth in 2021?

Metis Technical Analysis — How Much Will METIS be Worth in 2021

This 2021 Metis (METIS) Technical Analysis is based on the study of technical indicators. Below, we have outlined the key factors that contributed to our METIS price analysis.

Metis builds an easy-to-use, highly scalable, low-cost, and completely functional Layer 2 ecosystem to fully support the application and business migration from web 2.0 to web 3.0. Its scalable support of protocol has a wide range of use cases that includes NFT platforms, decentralized social platforms, open-source developer communities, and many more.

METIS Current Market Position

According to CoinGecko, METIS is at $4.97 with a 24-hour trading volume of over $71,457, at the time of writing this METIS technical analysis. This means, the price of METIS has decreased by 5.92% in the last 24-hours

METIS token has a current circulating supply of 698,410.53 METIS. For those interested in buying the token, METIS can be purchased and sold on Gate.io, and AOFEX.

METIS Technical Analysis 2021

Currently, METIS holds 1246th place on CoinGecko in terms of market capitalization. Do you think the latest upgrades, changes, and developments in the METIS blockchain can help the crypto’s price to reach higher? Now let’s proceed to the chart in this METIS price prediction article.

METIS USDT Symmetrical Triangle Pattern
METIS/USDT Symmetrical Triangle Pattern (Source: Gate.io)

The above chart shows the Symmetrical Triangle pattern. This pattern shows the period of consolidation that may force a price breakdown or breakout. More so, a breakdown from the lower trendline shows the start of a new bearish trend. In contrast, a breakout from the upper trendline signal indicates the beginning of a new bullish trend.

METIS USDT MACD and Relative Strength Index
METIS/USDT MACD and Relative Strength Index (Source: Gate.io)

When it comes to Moving Average Convergence/Divergence (MACD), the MACD stands just below the signal indicator making a bearish crossover. This represents that traders and investors may expect bearish days ahead. However, if the MACD points towards an upward direction, then we may expect more bullish days ahead.

Furthermore, the Relative Strength Index (RSI) is at level 45, this shows that METIS is neither oversold nor overbought. As a result, traders can trade with confidence without worrying about any major price reversal.

The chart below indicates the 50-day Moving Average and 30-day Exponential Moving Average of METIS.

METIS USDT 50-day MA and 30-day EMA
METIS/USDT 50-day MA and 30-day EMA (Source: Gate.io)

Since the start of 2021, METIC’s price has seen more bullish moves which are greater than the previous one. More so, these are followed by fluctuations, consolidations, and corrections right away. Taking this into account, METIS has a competitive market in 2021.

Conclusion

METIS 2021 technical analysis shows that the cryptocurrency has a fantastic future ahead in 2021.  Also, the project looks promising as it has high aims, a use case, and clear goals that target a broad market.

Bullish METIS price prediction 2021 is $10. METIS could also reach a new all-time high price if investors have decided that METIS is a good investment in 2021. Furthermore, together with growing adoption, positive price predictions, and a community composed of thousands of retailers, METIS is likely to be a good investment this year.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.