METIS is a layer two blockchain that has been growing its popularity with the layer two trend in the crypto space. 

The infrastructure behind it seems well put together, however, the price movement does not reflect how great the project is. 

Currently, the coin of this blockchain is trending downward and it might continue its downward trend in the next couple of weeks. 

So does that mean it is not worth buying? To answer this question, let’s take a look at the price movement of METIS. 

METIS Price Analysis 

Looking at the price chart of METIS, it can be seen that the price is currently trending downwards with a potential movement of breaking the current support level. 

METIS Price Analysis / Source: Tradingview

Looking at its daily chart, it can be sensed that the price is currently consolidating and trying to break the support level of $89 but it currently has broken it has not confirmed that it will go down even more. 

The movement happened with the RSI Indicator going into a bearish zone while at the same time, the chart shows a descending triangle pattern. 

There are two possibilities with a descending triangle pattern, where the token’s price might go down even more or do a fakeout to liquidate traders before doing a reversal. 

The confirmation of this movement can only be seen after the weekend, when the daily candlestick will close and open a new weekly candlestick. 

This will give time for the chart to confirm to traders where the token is going, but looking at data around it, currently, there is a possibility of it going down. 

Is it Not Worth Buying?

So does this mean that the coin is not worth buying? Not. The reason behind this is that METIS has a good clear product and fundamentals to support the long-term growth of this coin. 

METIS is an Ethereum layer two blockchain, which has the goal of beating other existing layer two blockchains in the Ethereum Ecosystem.

It implements an optimistic roll-up mechanism so that the consensus mechanism is similar to Ethereum without changing anything in the Ethereum infrastructure.

This creates huge benefits for developers as it will be easier to build on Metis compared to other layer two blockchains that have their infrastructure, because if the developer is familiar with Ethereum, then they will want a scalable blockchain that has many similarities with it. 

This gives potential for METIS to be adopted by Ethereum developers everywhere which can increase its transaction volume in the long term. 

However, Metis is currently still in its development stage, which is why its fundamentals have not played a significant role in its price movement yet. 

Coming back to the question, is METIS worth it or not, it all depends on each other’s preference. But looking at the fundamentals of its early stage, then it certainly has the potential to grow bigger in the future. 

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