MOVE Price Analysis: Key Levels & Potential ScenariosCurrent Market Structure
Since mid-February, MOVE has been consolidating, with a critical support level forming around $0.4371.
This level aligns with a bullish daily gap and the midpoint of a previous candle tail, making it a key area to watch for a potential retest.
Following the mainnet launch, a "sell the news" reaction may test this support level before determining the next directional move.
Downside Risk: Key Support Levels
If $0.4371 support fails, there is minimal historical support below, making a drop more probable.
Possible profit-taking zones include:
$0.3705 (near bulls' stop levels)
$0.3500 (a major psychological support level)
Upside Potential: Resistance Levels to Watch
If MOVE rebounds off support and breaks above $0.4980 (previous rejection zone), the next bullish targets include:
$0.5573 (first major resistance level)
$0.5820 (historical rejection zone)
Conclusion & Strategy
Bullish Scenario: A strong bounce from $0.4371 could lead to a push toward $0.4980 and potentially $0.5573 if buying pressure sustains.
Bearish Scenario: A break below $0.4371 could accelerate losses toward $0.3705-$0.3500, where buyers may attempt to step in.
Key Watchpoint: How the price reacts at $0.4371 will dictate the next significant move. If it holds, bulls regain control; if it fails, further downside is likely.
