Meteora (MET) is back in the spotlight as the token surged more than 28% in the past 24 hours, breaking out of a multi-week base between $0.33 and $0.40. The move pushed MET to retest the $0.50 level on elevated trading volume, with technicals hinting that a run toward $0.55–$0.60 could follow if buyers maintain momentum.
The breakout was triggered after fresh Crypto.com and Coinbase Perpetuals listings, which immediately boosted trading activity and liquidity. On the 4-hour chart, the $0.40 zone once a major resistance has flipped into strong support, confirming a clean rounded-bottom formation.
Technical Picture: Bulls in Control, but Risks Rising
Meteora’s RSI is at 77, placing it firmly in overbought territory, while the Bollinger Band Width Percentile (BBWP) signals peak volatility. This suggests the current move may be entering a short-term exhaustion phase. However, traders note that high BBWP readings during strong breakouts can often precede a continuation spike before consolidation.
The 9 EMA (cyan) remains the key dynamic support on lower timeframes. If it holds, MET could keep grinding higher toward $0.55–$0.60. A failure to hold this moving average, however, may open the door for a pullback toward $0.40, where dip buyers are likely to re-enter.
Community and Fundamentals Fueling the Move
The community buzz surrounding Meteora’s ecosystem is also driving the rally. Traders point out that the Meteora DEX is now generating nearly the same daily trading fees as Uniswap, despite its market cap being less than one-tenth of Uniswap’s.
This strong fee generation and growing adoption highlight Meteora’s expanding presence in the DeFi and DEX space. The recent launch of the Meteora Invent Launchpad, part of its October 23 token generation event, has further strengthened its product lineup and investor sentiment.
Outlook: Consolidation or Continuation?
While short-term traders may brace for a pullback due to overbought conditions, long-term momentum remains intact. Sustained volume and positive sentiment could see MET testing the $0.60 resistance zone in the days ahead making Meteora one of the standout DeFi performers of the week.
