MOVE Price Falls 11% Amid Sustained Selling Pressure | Airdrop Alert Pro

Movement (MOVE) is down about 11% in the past 24 hours, extending its correction to 26% in the past seven days. Technical indicators include relative strength index And the Ichimoku Cloud signals a strongly bearish outlook, with MOVE trading near oversold levels and well below the cloud.

The recent formation of a death cross has intensified the downtrend, indicating increasing selling pressure. For MOVE to recover, it must break through key resistance levels. However, failure to hold current support could lead to further losses.

RSI trend remains close to oversold territory

move The RSI is currently at 33.3, recovering slightly after falling to 29.7 a few hours ago. This shows that the RSI has dropped significantly from 53 two days ago, highlighting the asset’s rapid transition from neutral territory to oversold conditions.

this RSI (Relative Strength Index) is a momentum oscillator that ranges from 0 to 100 and is used to evaluate whether an asset is overbought or oversold. Typically, values ​​below 30 indicate oversold conditions, indicating that the asset may be undervalued, while values ​​above 70 indicate overbought conditions, indicating a potential price correction.

MOVE’s RSI is 33.3, which remains close to oversold territory, which may attract buyers looking for discounted entry points. This level suggests that recent selling pressure may be easing slightly, providing the potential for price stabilization or recovery.

However, if the RSI fails to move back towards neutral levels, it could signal continued bearish momentum, keeping MOVE’s price under pressure in the short term, even after a price hike by Movement Labs, the company behind MOVE. US$100 million in funding.

MOVE Ichimoku cloud paints a bearish picture

MOVE’s Ichimoku cloud chart shows a strongly bearish configuration with price well below the cloud (Kumo).

The clouds are red and expanding, indicating increasing bearish momentum and continued downward pressure. This indicates that the current trend is firmly bearish and shows no signs of abating anytime soon. Recent changes caused MOVE to lose its top 50 spot Altcoinsnow 59 years old.

The conversion line (blue) remains below the baseline (red), confirming the short-term bearish momentum. Additionally, the lag span (green) is below the price and cloud, reinforcing the bearish outlook.

These permutations of the Ichimoku indicator indicate an ongoing downward trend with no immediate signs of a trend reversal. The overall structure and lines of the cloud reflect the market environment Mainly sellers.

MOVE Price Prediction: Will MOVE Return to $1 Levels Soon?

moving price A death cross recently formed, which is a bearish signal with its short-term moving average below its long-term moving average, indicating increased downward momentum. This technical correction reinforces the ongoing bearish trend and suggests that selling pressure remains dominant.

If the current downtrend continues and the $0.70 support fails, the price may fall further towards $0.59. Conversely, if an uptrend develops, MOVE could break above the $0.83 resistance and could rally to $1.15, a 43% gain that could put Movemnet back into the top 50 Altcoins.