MOVE price hikes 7% in 24 hours, 33% up from weekly lows - What next?

MOVE’s market structure remains bearish, with a recent lower high on the 4-hour chart at $0.616. A session close above this level could signal a bullish shift.

On the downside, the lower low at $0.37 is critical—falling below this level would confirm the continuation of the downtrend.

On shorter timeframes, the $0.53 level is notable. Previously a support, it now acts as resistance, with the $0.53–$0.55 zone likely to challenge bulls in the near term.

The Awesome Oscillator suggests a potential momentum swing, while the RSI sits at 47 and is approaching 50, signaling a possible buyer advantage. However, the A/D indicator shows no clear trend, with gains from early March fading back to February levels.

MOVE Liquidation Heatmap Source: Coinglass

The past month’s liquidation heatmap identified $0.55 as the strongest magnetic zone, with a smaller liquidity cluster at $0.52. The price is likely to move upward and sweep the $0.55 level soon.

However, whether the short-term bullish momentum can be sustained beyond this point remains uncertain. A bearish reversal seems more probable due to weak buying pressure and the overall market structure.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

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