Welcome to our fifth installment of our Bitcoin and & Altcoin Price Analysis series. For our earlier parts read here.

Metal (MTL) is a project that launched after a successful token fundraising back in 2017. There was no ICO, the buyers of the tokens were venture firms, accredited investors, friends and family. It’s first market debut has been in August and it has been pretty much in a downtrend, except a short rise, since then.

Metal features a fundamentally solid team coming from well-known companies like: Morgan Stanley, Apple, Visa, Stellar, Wells Fargo, PayPal etc. They have been silently building an application named MetalPay for smartphones for the past few months. With the application users will be able to send FIAT to each other in a cheap and fast way, while also earning MTL from these transactions. It will also serve as a zero fee exchange converting USD to MTL and this activity will also earn users tokens as a form of cash back. Another important feature will be a real-time invoicing feature. Their wiki page and whitepaper goes into detail explaining these processes.

The incentive to use the platform’s token will be the following: Merchants who own MTL will recieve a discount on all associated payment processing fees and a discount on merchant services. Additional 5% off will be gained for offering a discount when paying in MTL.

MetalPay partners for FIAT transfer include: Chase, Wells Fargo, Bank of America and more. The application should be released before the 31th of March according to CoinMarketCal.

Now let’s take a look at the chart:

What we can see from the chart is the following:

There is a multi-month down-trend / consolidation that appears to be broken

Volume is catching up at a fast pace on Binance compared to the earlier months

Short-term horizontal resistance broken

What does this mean for METAL?

The overall chart outlook for Metal (MTL) seems to be bullish. Price could possibly reach the earlier tops of 0.0009 and 0.001.

General notice

We offer our own perspective at markets, but you (as an investor) should always #DYOR – Do Your Own Research, both fundamentally and market-wise. Note also that this article is not intended as an investment advice. We at WalletInvestor love to do charts and read up on interesting projects.