Metal coin has clearly rejected the support at $3.33 which is a 261.8% Fibonacci retracement level applied to the corrective wave after the downtrend trendline breakout.

After rejection price started to climb up printing higher highs and higher lows, which does suggest that the uptrend could be emerging. However, the strong resistance is based on the 23.6% Fibonacci retracement that is $6 area. Break above that price should provide much more strength to MLT/USD pushing it higher up to $8 area.

However, while the $6 resistance is holding, Metal will remain a risky investment in the short term and could correct down to the uptrend trendline and perhaps a little lower. The best approach to trading Metal would be to act on the fact of the resistance breakout.