Journalist
Posted:
- Gauging the Movement price prediction as MOVE recovered well from its short-term retracement.
- The retest of the 78.6% level and its defense highlighted bullish conviction.
Movement [MOVE] has performed well in the past 24 hours, gaining 12.09% while the altcoin market shed 1.7%. This strong relative performance was an encouraging sight for the bulls.
Bullish structure for MOVE- but also some volume concerns
Source: MOVE/USDT on TradingView
The price action of Movement crypto was strongly bullish. After the rally from $0.59 to $1.13, it saw a retracement to $0.7, the 78.6% Fibonacci level.
Since then, the token has rebounded strongly, aided in part by Bitcoin’s [BTC] short-term bullishness over the past few days.
During MOVE’s recovery, the trading volume had climbed higher. While this was an encouraging sight, the OBV was yet to break a local high.
This showed that buying pressure has been on the rise, but was not yet large enough to overshadow the selling seen from the 20th of December.
Therefore, even though MOVE has made a new higher high, it could struggle to push higher due to insufficient volume. Meanwhile, the RSI showed momentum was firmly pointed higher.
The next targets are $1.26, $1.47, and $1.68. In the short term, the $1.2 zone is a resistance, while the $1.03-$1.05 region is a demand zone.
A drop below $0.997 would flip the structure bearishly and could be an early warning of another retracement.
Open Interest nearly doubles in three days
Since the 23rd of December, the Open Interest has nearly doubled, rising from $71.8 million to $135.68 million at press time.
Read Movement’s [MOVE] Price Prediction 2025-26
This reflected heavy bullish speculative activity as MOVE saw gains in the past three days.
The Funding Rate was also positive, outlining bullish sentiment. Sustained demand in the spot market would likely help the Movement token gain traction and surpass the $1.2 resistance zone.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
