- MOVE experienced a drop below short-term range lows and has yet to recover
- The increase in MDIA suggested that new investments were not coming in and holders were holding onto their tokens
MOVE witnessed an 11.16% surge in just 16 hours after hitting a low of $0.786 on Monday. However, it then experienced a 9% decline in the following 36 hours. As a result, MOVE was trading at less than 1% above Monday’s lows at the time of writing.
On the other hand, Bitcoin saw an 8.7% increase from its Monday lows, reclaiming the $92.4k region as a demand zone and aiming for the $102k resistance level. The contrasting price movements of both assets highlighted the relative weakness exhibited by MOVE.
Analyzing Movement’s signals, the bears seem to have the upper hand
Source: MOVE/USDT on TradingView
The 4-hour price chart revealed a range between $0.83 and $1.13 that has been in place for almost a month. Despite a recent bounce, MOVE failed to reclaim the range lows as support, and the subsequent drop below $0.83 raised concerns.
Over the past two weeks, the A/D indicator has been on a downward trend, indicating consistent selling pressure and weakness from buyers. This trend suggests that MOVE could potentially fall to $0.728 or even lower in the near future.
The on-chain metrics also painted a bearish picture. The 30-day MVRV ratio was slightly negative, indicating that short-term holders who are already at a loss may have little incentive to sell. However, this is only a minor positive amid other concerns.
Additionally, the age consumed metric remained subdued in January, signaling a lack of significant token movements. The 90-day mean dollar invested age was on a consistent upward trend, suggesting that holders were holding onto their coins, possibly leading to network stagnation.
Despite the uptrend in MDIA, since MOVE has only been trading for a short period, bulls may not be too worried. However, a reversal in MDIA could potentially lead to significant price gains.
Read Movement’s [MOVE] Price Prediction 2025-26
The article continues with insights on how Cardano whales’ re-entry could impact ADA’s price performance.