Movement (MOVE) crypto has gained by over 12% in 24 hours, but a surge in selling activity from short-term traders could cause a trend reversal.
has outperformed the rest of the broader market after recording an over 12% gain in 24 hours. At press time, MOVE traded at $0.797 amid a 137% surge in trading volumes per
One of the factors that stirred MOVE’s uptrend was a spike in buying activity as short-term traders sought to book profits during the rally. However, buying volumes appear to have subsided on lower timeframes, which could trigger a downtrend if selling volumes increase. On the other hand, if the bearish trends persist and buyers fail to step in, MOVE could drop to a crucial support level at the 1.618 Fibonacci level .A look at derivatives market data for MOVE crypto shows a significant spike in speculative activity that could drive volatility.
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