- MOVE fell below the short-term range lows and hasn’t reclaimed it yet
- Rising MDIA meant new investments aren’t entering and holders weren’t moving their tokens
Movement [MOVE] saw a 11.16% hike in 16 hours after hitting its $0.786 lows on Monday. This was followed by a 9% drop in the last 36 hours. The end result was that MOVE was trading less than 1% away from Monday’s lows, at press time.
Meanwhile, Bitcoin [BTC] has gained by 8.7% from Monday’s lows. The $92.4k region was firmly reclaimed as a demand zone and BTC seemed to be heading towards its $102k resistances. The disparity in both assets’ price actions were insightful. Especially since it underlined the relative weakness that MOVE exhibited.
Sifting through Movement’s signals, the bears have an advantage
Source: MOVE/USDT on TradingView
The 4-hour price chart highlighted a nearly month-old range from $0.83 to $1.13. As highlighted earlier, the recent bounce was not enough to reclaim the range lows as support. The subsequent slide below $0.83 was a concerning sign too.
During the last two weeks, the A/D indicator has also skated lower. This steady downtrend pointed to persistent selling pressure and weakness from the buyers. It seemed likely that MOVE would fall to $0.728 or lower in the coming days.
The on-chain metrics weren’t bullish either. The 30-day MVRV ratio was slightly negative. This meant short-term holders have less reason to sell their holdings since they are at a loss already. However, this would be only a small consolation.
The age consumed has also been quiet in January. The metric makes spikes when a large amount of tokens, or older tokens, are moved – The bigger the spike, the larger the collective age of the moved tokens.
Read Movement’s [MOVE] Price Prediction 2025-26
The 90-day mean dollar invested age was on a steady uptrend as well. This alluded to holders not moving their coins, and could be indicative of network stagnation.
Since Movement has only traded for just over a month, the MDIA’s uptrend is not a worry for the bulls. However, it is possible that strong price gains would follow the MDIA’s downturn.
