Deep Dive
1. Ecosystem Growth (Bullish Impact)
Overview: Metal DAO announced integrations with travel platform Travala and expanded DeFi partnerships (Velodrome, Ionic Money) between July 21–31, 2025 (Metal_L2).
What this means: These collaborations expand MTL’s utility in travel bookings and DeFi liquidity pools, creating new demand channels. Governance votes for incentive allocations (e.g., 10,000 MTL/week for Velodrome pools) encourage token locking, reducing circulating supply.
What to look out for: User adoption metrics on Travala and TVL growth in Metal L2’s DeFi protocols.
2. Technical Rebound (Mixed Impact)
Overview: MTL’s 14-day RSI hit 35.21 on September 30 – nearing oversold territory (≤30) – which often precedes short-term rallies. The price crossed above its 7-day SMA ($0.64), signaling momentum shift.
What this means: Traders interpreted the RSI dip as a buying opportunity, but MACD remains negative (-0.006187), suggesting weak underlying momentum. Resistance at the 23.6% Fibonacci level ($0.744) could cap gains.
3. Liquidity Incentives (Bullish Impact)
Overview: Weekly 10,000 MTL rewards for Velodrome liquidity providers (ongoing since July 23) require participants to hold and stake MTL (Metal_L2).
What this means: These incentives reduce sell-side pressure by incentivizing long-term staking. However, the program’s impact may diminish if participation plateaus.
Conclusion
MTL’s rebound reflects a mix of strategic partnerships, technical buying, and staking incentives – though sustainability hinges on follow-through adoption. Key watch: Can MTL hold above $0.65 (7-day SMA) to confirm a trend reversal?