#ChristmasMarketAnalysis

Dec. 25. Last year, Metis (METIS) was the biggest crypto gainer on Christmas, increasing over 50%. ORDI and SATS (1000SATS) were in second and third places, respectively, noting the interest in Bitcoin inscriptions at the time.

these cryptocurrencies increased so much last year and if they can do the same this year.

METIS Price Surges

The METIS price increase occurred after the DAO announced a $330 million incentive program for decentralized applications (dApps) that build on the rollup starting in January 2024.

The grant was meant to support their decentralized sequencer launch the same month. The team announced that the Total Value Locked (TVL) in Metis has increased by 300%, reaching $400 million.

While the METIS crypto surged last Christmas (black icon), the price movement has not been as bullish since then.

The METIS price increased until March 2024, reaching a high of $149.70. However, it created a long upper wick (black circle) and has fallen since.

Since July, METIS has increased inside an ascending parallel channel, a bearish pattern.

In December, the price risks breaking down from the channel’s support trend line and the $450 horizontal support area.#ChristmasMarketAnalysis $BTC