- Movement is trading at $0.1814, having gained over 9%.
- MOVE’s daily trading volume has surged by 308%.
The overall market cap has reached $2.92 trillion, with Bitcoin (BTC) hovering at around $93.8K and Ethereum (ETH) trading within the $1.7K range. The mixed signals brought in a wave of both green and red across the crypto assets. Meanwhile, Movement (MOVE) has registered a gain of 9.38%.
In the early hours, the asset traded at the bottom level of $0.1642. As the bulls step in, the price of the MOVE has climbed to a peak of $0.2026, breaking $0.1792 and $0.2016 levels.
At press time, Movement traded within the $0.1814 level, with its daily trading volume surging by over 308%, reaching $285 million, as per CMC data. Consequently, the market observed a liquidation of $1.49 million worth of MOVE during this timeframe, according to Coinglass data.
What is the Next Step for the Movement?
The four-hour price chart of MOVE reports the brief possibility of the upside correction if the bullish momentum stays. The price might break the resistance at $0.1838. Assuming the bulls trigger the golden cross to form, the asset could aim high above $0.19.
On the flip side, if the bears initiate a sturdy momentum, the asset could slide toward the $0.1775 range. Further losses might push the MOVE’s price to its former lows, and in case of the emergence of a death cross, the price may be sent to the $0.16 mark.
MOVE chart (Source: TradingView)
Zooming in on the technical indicators, the Moving Average Convergence Divergence (MACD) line and signal line are below the zero line. It indicates a bearish crossover, with the potential of a slight recovery of the Movement. Moreover, the Chaikin Money Flow (CMF) indicator stationed at -0.15 suggests a negative sentiment, and the capital is flowing out of the asset.
The current market sentiment of the asset is neutral as the daily relative strength index (RSI) stays at 50.36. Neither bulls nor bears are dominating the asset, pointing to a consolidation phase. Besides, the Bull Bear Power (BBP) reading of 0.01476 signals a slight dominance of bulls in the market.
