Metis METIS
METIS cycle analysis · chart, confirmed lows and fundamentals
Amber List Recovering held Phoenix · monthly · score 67.0 mixed
67.8% below its 365-day high of $12.52 (2025-11-07), +79.0% off the 365-day low. Snapshot 2026-10-21 UTC.
On the Amber List.
Held on the Amber List: it last met the Amber List rules on 2026-10-18. Today it reads Watch; a tier moves down only after five consecutive scans below its rules.
Recovering: a monthly swing low has confirmed. The badge coexists with the tier; it is not a completed recovery.
Phoenix monthly: stopped falling by the rules, +79.0% above the Aug 2026 trough. Details below.
Since the previous scan.
Tier, recovering badge and Phoenix state are unchanged between these two observations.
Comparing 2026-10-20 with 2026-10-21 UTC. Classification, not price returns.
Recorded timeline →Where it sits in each cycle
a swing low confirms only when a later bar takes out the low bar's highMonthly
- Last bars
- 2Dr 1r 3g 2Ug 2Ug
- Confirmed low
- $2.25 · 2026-08-31
- Position
- 2 of median 7.0 (max 11)
- Current low
- $2.25 · confirmed
- Cycle-low confidence
- 26%
- Confirmed lows
- 7
Weekly
- Last bars
- 2Ug 2Dr 3g 2Ug 1g
- Confirmed low
- $3.09 · 2026-10-11
- Position
- 2 of median 5 (max 15)
- Current low
- $3.09 · confirmed
- Cycle-low confidence
- 39% · in band
- Confirmed lows
- 38
Daily
- Last bars
- 2Ur 2Dr 2Ug 2Ug 2Dg
- Confirmed low
- $3.59 · 2026-10-18 (daily)
- Position
- 3 of median 5.0 (max 24)
- Current low
- $3.93 · unconfirmed
- Confirms above
- $4.05
- Cycle-low confidence
- 24% · in band
- Confirmed lows
- 279
The full read, in sentences
- Monthly: forming bar is a green 2-Up. Last confirmed swing low 2.25 (Aug 2026), month 2 of a cycle that has typically run 7. Cycle-low confidence 26%.
- Weekly: forming bar is a green inside bar. Last confirmed swing low 3.09 (Oct 2026), week 2 of a cycle that has typically run 5. Cycle-low confidence 39%.
- Daily: bar is a green 2-Down. Last confirmed swing low 3.59 (2026-10-18), day 3 of a cycle that has typically run 5. Current low 3.93 is unconfirmed — it confirms above 4.05. Cycle-low confidence 24%.
- Amber List: 68% below the 2025-11-07 high; +79% off the 365-day low.
- Phoenix: 98% decline over 29 months, monthly swing low confirmed (next-bar), now +79% above the trough; pullback #2 confirmed 2026-10-18.
- Gauges: Mayer multiple 1.31 (neutral); -85% vs the 200-week average; -97% from the all-time high.
Has Metis bottomed?
A confirmed swing low is evidence of a price pattern, not proof of a final market bottom. Here is what the METIS snapshot records on 2026-10-21 UTC:
Monthly: the last confirmed swing low is $2.25 from 2026-08-31. The current candidate is marked confirmed. The latest monthly bar is still forming.
Weekly: the last confirmed swing low is $3.09 from 2026-10-11. The current candidate is marked confirmed. The latest weekly bar is still forming.
Daily: the last confirmed swing low is $3.59 from 2026-10-18. A newer candidate at $3.93 is unconfirmed; its confirmation level is above $4.05, provided the candidate low is not undercut first.
How bottom confirmation works. Cycle-low confidence is a heuristic score, not a calibrated probability of a profitable trade.
How far is Metis below its high?
The Coinbase price snapshot is 67.8% below its rolling 365-day high of $12.52 from 2025-11-07. Separately, CoinGecko reports -98.8% relative to its all-time high of $323.54 in the fundamentals snapshot pulled 2026-10-21.
Different sources and observation times can produce different drawdowns. Compare crypto drawdowns and reference highs.
The recorded history
scan observations, not exact transition timesFirst observed 2026-09-19. 33 observations; absence from a captured scan is unmatched, never recovery.
- First observed: Amber List; recovering · Phoenix monthly
Phoenix
stopped falling, by the rules- Peak
- $149.00 · Mar 2024
- Trough
- $2.25 · Aug 2026
- Decline
- -98.5% over 29 months
- Above trough
- +79.0%
- Monthly
- confirmed (next-bar) · trigger $3.05
- Weekly
- confirmed (late (2 bars))
- False bottom
- none
- Entry
- pullback #2 low $3.09 confirmed 2026-10-18 · trigger $3.90
| decline | 30 |
| confirmation | 25 |
| earliness | 12.0 |
| stale | 0 |
| false bottom | 0 |
| bluechip | 0 |
Fundamentals
| Liquidity (24h volume / market cap) can you get out | 6.54 % | 15.0 / 15 |
| Supply overhang (FDV / market cap) unlocked supply waiting to sell | 1.23 x | 13.3 / 15 |
| Size (market-cap rank) survivorship | 752 # | 0 / 15 |
| Usage (price / annualized fees) fees people actually pay to use it (DefiLlama) | 1119.1 x | 0 / 20 |
| TVL backing (market cap / TVL) capital parked in it (DefiLlama) | 10.24 x | 0.0 / 15 |
| Fee momentum (30d vs prior 30d) is usage growing into the recovery | 9.4 % | 5.9 / 10 |
| Age on Coinbase survived a cycle | 4.3 yrs | 10.0 / 10 |
7 of 7 measurable; score renormalized over what was measurable.
- Market cap
- $27.0M
- Fully diluted
- $33.3M
- 24h volume
- $1.8M
- Circulating
- 8,118,684 of 10,000,000 max
- All-time high
- $323.54 · 2022-01-16 (-98.8%)
- TVL
- $2.6M (chain)
- Fees 30d
- $2.0K
- Revenue 30d
- —
- Fees 1y
- $38.7K
- Mayer multiple
- 1.306 · neutral
- vs 200-week avg
- -85.1%
- Pi cycle
- 0.375
- On Coinbase since
- 2022-06-28 (1577 bars)
- CoinGecko id
- metis-token check
Continue your cycle research
How to read a crypto cycle chart · Calculation rules and sources