BREAKING: Coinbase Decided to Delist an Altcoin

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 31 2024

Should l Buy MTL?

Coinbase Delisting Announcement: Coinbase will not support the transition of Metal DAO (MTL) altcoin to its layer-2 blockchain network.
Trading Halt: Trading for Metal DAO (MTL) on Coinbase platform will cease on June 14.
Important Note: This information is shared as news and not as investment advice.

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Technical Analysis for MTL

Technical Sentiment Analysis for Metal DAO (MTL) As of , Metal DAO (MTL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MTL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, MTL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Metal DAO (MTL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.14	0.19	0.244	0.294	0.348	0.398	0.452
Fibonacci	0.19	0.229	0.254	0.294	0.333	0.358	0.398

About MTL

Metal DAO (MTL) is the utility and governance token of the Metal L2 Optimistic Rollup, part of the Superchain, used to pay for gas fees on the network.MTL governs the Metal L2 network through the Metal DAO, enabling holders to vote on governance decisions and grant allocations. This includes the ability to propose new stablecoins for the Metal Dollar basket, decide their allocation ratios, and vote in new stablecoin issuers such as community banks or fintechs.Metal Pay offers tiered trading discounts to MTL holders when using the Metal Pay cash and crypto app. Notably, Metal Pay customers with over 10,000 MTL enjoy 0% fees on all cryptocurrency purchases.Metal L2 is a cutting-edge Layer 2 Ethereum scaling solution launched by Metallicus, aimed at integrating traditional finance with decentralized finance. As part of the Optimism Superchain, Metal L2 stands out by providing direct connections to banks, payment partners, and on-chain identity solutions, ensuring scalability in Web3 while maintaining rigorous compliance. The network introduces the Metal Dollar (XMD), a stablecoin facilitating instant transfers between major stablecoins and fiat.Metal L2 leverages the Layer 0 Metal Blockchain, supporting compliance with industry regulations like the Bank Secrecy Act (BSA), and promises to connect dApps to a broader payments and banking network, enhancing user-friendly digital banking experiences and contributing to the Optimism ecosystem.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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