MTL (Metal DAO) is currently developing within Wave C of a classic diametric pattern, based on Elliott Wave theory. This structure suggests a high-probability corrective phase that typically leads to sudden and sharp movements before a potential reversal.
As of now, MTL has not yet reached the identified green buy zone, but price action is approaching it. This zone has been highlighted by analysts as a major area of interest for a potential rebuy scenario once touched, based on market structure and historical behavior.
Importantly, the setup includes a clearly defined invalidation level. If the price closes a daily candle below this invalidation level, the current wave count would no longer be valid, and traders should reassess the market outlook.
Until this invalidation occurs, the current count remains intact, and market participants may monitor the ongoing price action for potential bullish continuation after Wave C completes.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
