$METIS - Consolidating - looking good!GATEIO:METISUSDT has as proposed flipped ~$80 prior resistance to support and is now sitting in a tight accumulation pattern.
Looking at the weekly chart - we are sitting around a long term S/R -
Upcoming market dynamics - be that the full announcement of community sequencing activity, the EDF details, $HERMES V2 concentrated liquidity set up - are all quite bullish.
When we push up I am looking first to see the FV Gap at around $130 get taken before a pullback to distribute prior to another push towards the heavy duty S/R in the $160's
The timeframe for this is quite variable, and given how much excitement and OI is forming around the Andromeda chain, quite possible to see some market maker shenanigans - i.e. some heavy dumping on the way up to mop up some of the leveraged capital that is sloshing around.
Personally - I'm looking for a Q1 target price of $130-160 - which would mark a 100% return if you only entered here.
Is there a possibility that we get a pullback to the $60's - yes absolutely but Risk : Reward here is skewed toward spot $METIS and ecosystem rewards during these fluctuations.
Providing volatile liquidity to $HERMES:$METIS for example (hermes.maiadao.io) is providing an ample (non-boosted) APR around 102% whilst this plays out.
Using leverage on $METIS at the moment seems like a fools errand.
Good Hunting
