Meteora price is surging 28%, testing $0.50 on elevated volume, with potential to test $0.60, though pullback risk remains high due to overbought conditions and maxed out volatility.
Summary
- Meteora price broke out from a rounded bottom between $0.33–$0.40, now testing $0.50, with potential to retest $0.55–$0.60 if momentum holds.
- The surge is likely driven by recent listings on Crypto.com and Coinbase Perpetuals.
- Community discussions are noting that Meteora is generating nearly the same trading fees as Uniswap despite having a market cap just a tenth of its size.
Meteora price technical analysis
Meteora (MET) price has surged 28% in the past 24 hours, with volume surging over 100%. The surge marked a breakout from a rounded bottom formation that developed over the past couple of weeks between the $0.33 and $0.40 range.
The broken resistance at $0.40 has now flipped into support on the 4H timeframe, while MET price is testing the psychological $0.50 level, which also coincides with the horizontal resistance zone from late October — where MET price last consolidated before breakdown to the $0.30 region.
With RSI overbought at 77 and volatility maxed out, the risk of short-term exhaustion from current levels is elevated. However, high readings on the BBWP indicator, especially combined with elevated volume, could also precede a continuation spike, potentially paving the way for a retest of $0.55 and $0.60.
The 9 EMA (cyan) may continue to act as dynamic support, containing profit-taking pullbacks, but if this level fails to hold, buyers are likely to step in at $0.40 to defend the breakout structure.
Why did Meteora price break out?
Meteora price breakout coincides with a series of bullish catalysts, most notably the token’s listings on Crypto.com and Coinbase Perpetuals.
Additionally, Meteora has recently launched its new product suite, most notably the Meteora Invent launchpad as part of its token generation event on October 23.
Adding to the momentum, community discussions highlight how Meteora decentralized exchange is pulling in nearly the same fees as Uniswap, yet it’s valued at barely a tenth of its market cap. “Generating the same fees, with a 400M valuation, while keeping up with protocols that have been around for years. And nobody is talking about this yet???,” user @BagCalls wrote in a post on X.
