Is This the Next Big Thing in Crypto Space? What is Movement Network? Will the MOVE Price Reach $1?
Trend Price is rising, rising more than 15% in the past few hours after maintaining a consolidation trend since the opening. Interestingly, this is happening at a time when the broader cryptocurrency market is facing a massive sell-off bitcoin price fell below $100,000, while Ethereum price Heading towards $3,500. With trading volume growing by over 110%, MOVE price looks set to break out to new highs of $1.45 soon.
What is exercise? Why did MOVE prices increase?
Movement (MOVE) is the native token of the Movement Network built on Ethereum, using the Move programming language to provide faster and more secure transactions. Additional enhanced scalability is expected with Layer 2 solutions designed to improve interoperability with advanced features. Shortly after the Movement Foundation launched its mainnet network and governance token MOVE, the price surged to $0.8.
Furthermore, the price maintained a healthy rise and surged above $1 to reach $1.45 in the following hours, triggering a massive bearish pullback. Now that MOVE price has sparked a strong recovery, will it move back above $1 today?
MOVE’s short-term price action suggests that the coin may experience a minor correction as it fails to sustain above the neckline of the recovery curve. Additionally, the hourly MACD indicates declining buying volume and a potential bearish crossover, with prices expected to move slightly below the curve but remain above $0.716. The DMI, which is heading towards a bearish crossover, confirms this statement.
On the other hand, the RSI and OBV remain incremental, which indicates that the price remains within the bullish territory. Therefore, these minor dips can be viewed as a good buying opportunity as the price action is expected to trigger a rebound and move towards new highs, possibly near $1.6 in the coming days.
