$MET Price Drop: MET is testing its all-time low at $0.2528, recording a decrease of 43% over the past 30 days amid a strong downward trend.
Bearish technical indicators: the price is trading below all major moving averages with a negative MACD and a weak RSI (39.6), confirming significant selling pressure and no signs of reversal.
Liquidation risk: Large outflows and an extremely high long-to-short ratio above 26.0 indicate a buildup in long positions, increasing the risk of a downturn.
Fundamental headwinds: Recently failed announcements of token purchases worth 10.6 million USD and new staking rewards against the prevailing negative trend in the market.
Bearish momentum is dominant
Trading $MET near its historical low (0.2528 USD), with a monthly decline of 43%.
Technical indicators are bearish: the price is trading below key moving averages with a negative MACD indicator and a weak RSI (39.6), indicating strong selling pressure.
Announcement of token purchases does not raise the price
Meteora announced a token purchase worth 10.6 million USD and new staking rewards named 'Comet Points'.
However, this positive news was overshadowed by severe selling pressure in the market, failing to reverse the downward trend. 🔗
Earning opportunities on the Binance platform
Despite the end of high APR offers, users can still earn negative rewards.
MET is available on the Binance Simple Earn platform with flexible subscription terms, allowing users to earn interest on their held tokens. 🔗
High-risk environment
The main support is the historical low at 0.2528 USD. If broken, it may trigger further declines. Resistance is near the level of 0.2616 USD.
