Q2 started on a positive note for the cryptocurrency market after a record-breaking bearish Q1. Ethereum declined by over 44%, creating pressure on most altcoins.
MOVE's Decline and Potential Rebound
Among the affected tokens, Movement (MOVE) faced significant pressure, losing over 50% in the last 90 days. However, today, MOVE shows signs of a potential rebound, as its fractal chart suggests another short-breakout rally.
Familiar Breakout Pattern on MOVE Chart
On the 4-hour chart, MOVE has broken above a falling wedge pattern and is trading at $0.42. A retest might occur before further upside movement. A similar pattern was observed last week, resulting in a surge of over 40%.
Final Thoughts
MOVE’s recent price action indicates a potential repeat of short-term rally behavior. A move above the 100-day MA could lead to more gains. Paying attention to retest and volume confirmation is crucial.
While the movement shows promise, investors should watch key levels and volume confirmation.
