Metal Pay’s viral MTL token is causing a stir in the crypto world as it skyrockets on South Korea’s premier exchange, Upbit. The “up-only” movement of this coin has sent its price from $1.3 to an astronomical peak of $2.29! And with Koreans controlling over 67% of all trading volume.
MTL is the token of Meta Pay, a cryptocurrency payment provider. Not only does it facilitate easier and faster transactions, but it also allows users to buy, sell, transfer, and pay for cryptocurrencies with its own platform.
Crypto blogger Wu Blockchain recently tweeted that the MTL/KRW trading volume on Upbit had skyrocketed to $260 million, and Binance’s MTL contract annualized negative funding rate was an incredible 1430%.
MTL has experienced a swift rise in popularity as the go-to Korean memecoin of choice, making waves throughout the cryptocurrency community. With its innovative features, the coin has proven itself to be a worthy contender in the digital currency market.
Meta DAO Technical Analysis
Meta DAO token is trading at $1.54 at the moment of writing, up by over 20% since yesterday’s close. MTL is currently trading above the 50-day moving average, indicating that its uptrend is still strong and should continue in the near future.
MTL/USD pair has formed a bullish flag pattern, which signals a further potential increase in price. This is supported by the MACD indicator, which shows that the coin’s momentum remains strong and could lead to a breakout in the near future.
The RSI indicator also confirms that MTL is overbought at this time and should see some consolidation soon before continuing its uptrend. The token is facing resistance at the Fibonacci level of $1.68 and could see some pullback before attempting to break above it. The key support level for MTL is at $1.30, which could keep the price from falling too drastically.
Overall, investors are optimistic about MTL’s future prospects as its recent rally shows immense potential. With more adoption from South Korean exchanges and its continued presence in the crypto market, MTL may have a bright future ahead of it.