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Looking at METIS today soaring 20% in a single day, the market is indeed hot. But if you pay close attention to the candlestick charts, you'll notice some interesting details: the 4-hour RSI has already surged to 73, indicating obvious overbought conditions, while the 15-minute chart has already turned downward first—this combination usually suggests that short-term momentum may be insufficient.
Most people only see the massive 529% volume spike and start chasing the rally, but there's an easily overlooked detail here. Behind this lightning-fast surge is an overbought phenomenon. Historically, similar situations often require a deep correction to digest the gains or some time to cool off and stabilize this overheating. According to historical data, METIS has over a 65% probability of pulling back to the 5-day moving average within 24 hours after the 4-hour RSI breaks above 70. It looks like a strong breakout, but the risk of chasing high in the short term is actually increasing.
This doesn't mean the trend will reverse, but blindly following the trend at this position is a bit like dancing on fire. The real good opportunity might come after market sentiment calms down.
**My approach is to wait and see**, considering entering after a full market correction. If the price can pull back to the support zone of 5.85-6.00 and hold steady, then it might be a good time to consider entering: go long/buy, set stop-loss below 5.65, with the first target at 6.80 and the second target at 7.20.
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RSI73, that number is a bit scary. Pullbacks are just a matter of time.
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Wait, isn't this the ETH from yesterday? Same pattern, same ending.
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Waiting and watching is correct. I also want to buy the dip at 5.85, but I need to wait until the market cries out.
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Behind the 529% volume surge are all retail investors chasing highs—typical manipulator tactics.
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Wow, another lightning-fast surge. Is the chance of flipping within 24 hours really that high?
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I don't believe there's a 65% chance. It feels like armchair strategizing after the fact.
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Stop-loss set at 5.65 is quite solid, but I prefer to wait for a rebound before entering.
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Really, the market is too hot right now. Calmness is the key to making money.
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This time I learned my lesson—no more chasing highs. Once burned, twice shy.