Support test at $0.0061: Can Movement avoid deeper losses?

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Movement drops 7.25% to $0.0064 today

Highlights

MOVE/USD continues to trade below key short-, medium-, and long-term moving averages, confirming a persistent bearish trend.
Momentum and volume indicators such as MACD, ADX, and RSI show strong oversold conditions and sustained selling pressure.
The price closed at $0.0064 after a 7.25% decline, with next support at $0.0061 and resistance at $0.0069, as downside risk prevails in the $0.0061 to $0.0067 range over the next 2 to 3 days.

Oversold signals and heavy selling limit MOVE rebound odds

On the H1 chart, MOVE is trading below the MA-20 at $0.0068 and MA-50 at $0.0069, with the daily MA-200 far above at $0.0171. The Ichimoku Kijun is positioned at $0.0069, serving as immediate resistance. MACD and ADX both signal intraday sell conditions, while RSI stands at 26.06 and, alongside CCI and Stoch RSI, indicates oversold momentum. Bull/Bear Power reflects continued selling dominance, and these aligned signals highlight pronounced downside pressure amid elevated volatility.

Sideways outlook as volatility compresses and upside break fades

Over the next 2–3 trading days, MOVE is expected to trade within a $0.0061–$0.0067 volatility band relative to current levels. The probability of an upside break is very low; the baseline expectation is for a sideways move within this corridor. A decisive move above $0.0069 would be needed to open a bullish scenario, while a close below $0.0061 would likely see increased downside momentum.

Viktoras Karapetjanc, expert at Traders Union, sees MOVE under sustained pressure with technical momentum and sentiment both skewed to the downside. The asset is trading well below key moving averages and sell signals remain dominant, leaving little scope for optimism in the very short term. No notable news acts as a counterweight to the prevailing bearish tone. He maintains a constructive long-term bias but notes that near-term upside is highly unlikely unless $0.0069 is reclaimed. "For now, I’m watching for a structural base above $0.0061 before considering any renewed positivity on MOVE."

Earlier, analysts noted that Movement was experiencing sustained bearish momentum, with technical signals highlighting ongoing downside risk. The current analysis reinforces this negative outlook, with traders advised to monitor the $0.0061 support as a break below it could accelerate selling pressure in the near term.

Source of Data: MOVE Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.