METISUSDT
is blasting through - The flywheel being proffered by the METIS-Eco Development Fund is the main driver -
As is shifting $$$ from SOL rotatooors...
Re. EDF - the specifics are going to be revealed on the 3rd Jan -> appearance of "points" system that will "maybe" relate to some unlockable value - - - maybe not > hence this date is a bit of a risk
However given the EDF is denominated in $METIS (~6m tokens potentially) as the price has shot from $20 to $70 the value to the chain, developers and users has ballooned from $120m to $420m
The pressure is here...
Price is not yet in discovery so we have some Support / Resistance bands to utilise - however the price is shooting through them fast.
First major price point was around $45 (taken), next was around $64 (taken), next will be around $83 and finally $105.
How I will be trading this >
Look for weakness around those price points - particularly as we approach 3rd Jan
Whilst Crypto is often a "sell the news" space - dependent on the announced EDF program - this may be inversed, a "buy the sell the news" pressure....
We'll see...
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So we're finding S/R #3 to be convincing- now look for another urge to push with diminishing power...
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Now S/R #3 is turning into support - next stop S/R #4 and beyond