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Metis Coin is the native token of the MetisDAO ecosystem, which offers Layer 2 scaling solutions on the Ethereum network. It aims to provide users with fast, low-cost, and secure transactions. Metis serves as infrastructure for decentralized application (dApp) development, DAOs, and Web3 projects. The token is used for paying transaction fees, staking, and participating in governance processes within the ecosystem.
Metis (METIS) Price Analysis
With the recent correction in Bitcoin, altcoins have also experienced value declines. However, one of the standout projects during this downturn is METIS. The coin has retested the resistance level it previously broke, which now serves as a significant reaction zone for the asset.
If Bitcoin begins an upward movement without falling below the 91,800 level, METIS could initiate a swift upward trend from this range. From a technical perspective, the coin has already found support at the 50-day SMA. If the outlined scenario unfolds, 54.66 will be our first target price (TP). If this level is breached, the second target will be 61.10.
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