UPDATE MOVEMENT BULLISH MOMENTUM!UPDATE! The chart of MOVE/USDT on the 4-hour timeframe displays a compelling bullish pennant formation, signaling a potential continuation of the uptrend. After breaking out from its support level at $0.82, MOVE climbed to approximately $1.05, where it encountered resistance along the upper trendline of the pennant pattern. The price is now consolidating within the pennant, testing the lower trendline support.
This setup suggests that if MOVE maintains its support around the trendline and manages to break out of the pennant's upper boundary, the next target could be around $1.70. A potential correction might occur, bringing the price back to around $1.37, which would serve as a retest of previous resistance-turned-support before MOVE continues its ascent towards $2.40.
The overall structure indicates a bullish bias, with the pennant formation typically acting as a continuation pattern in trending markets. Traders are likely watching for a breakout above the pennant's upper trendline to confirm the next leg up.