Reviewed by Reviewed by Jibin Mathew George Updated 15:30 EDT October 8, 2026 Share Share Share Back to Top Meteora (MET) continued its bullish advance by delivering more daily gains after confirming a bullish breakout above a major resistance level. In fact, at the time of writing, the token was up 58% on the charts
The latest aggressive push cleared the $0.4140-resistance that had previously capped its previous bullish advances, as predicted earlier. Moreover, the breakout also strengthened the bullish market structure and redirected token’s buyers and bulls’ attention towards the all-time high at $0.6161
Notably, the move has been accompanied by a sharp hike in market activity. The key question now is whether the network bull will keep the momentum going
According to AMBCrypto’s analysis, the network’s trading volume surge stands out as one of the strongest confirmations behind MET’s breakout
Meteora’s traded volume spiked aggressively by 517% to $371.66 million in just 24 hours. This suggested that fresh capital was flowing into the token as buyers chase the breakout. If this level of participation persists, bulls could have enough momentum to continue pressing higher
Despite the impressive price action, however, the derivatives data seemed to tell us a slightly different story. MET’s funding rate fell significantly over the same period, suggesting that leveraged long positioning may be easing up
Additionally, the token’s average aggregated funding rate stood at -0.4221 at press time. This reading was far less than the average predicted aggregated funding rate
On the daily charts, the next significant target for buyers and Meteora bulls is the $0.6161 resistance level. This level is its most recent all-time high
With Meteora bulls managing to clear the $0.4140-resistance and the network’s trading volume exponentially increasing, the technical backdrop has been constructive. Notably, at press time, MET was still trading above all its key EMAs, meaning that the bulls were still in control
A successful defense of the breakout level could encourage another wave of buying towards record highs. Especially given that there seemed to be an unmitigated liquidity cluster worth about $12.09 million around the resistance level
Kelvin Murithi is a crypto journalist and on-chain analyst covering market structure, price action and blockchain data. He is a Bsc. Actuarial Science graduate and harnesses his statistical and data analysis skills to translate complex metrics into clear insights for everyday crypto investors
