$MOVR overall structure remains heavily bullish, but the vertical nature of the move is unsustainable in the short term.
· Short-term trend (Exhaustion & Pullback): 1H and 30min charts show clear signs of buyer exhaustion at the 2.06 mark. The rejection was sharp, characterized by a long upper wick and a massive spike in red volume.
The price is currently retracing to 1.83, indicating that profit-taking and distribution are actively occurring. A healthy correction or consolidation phase is currently unfolding.
🎯 Trading Scenarios
🟢 $MOVR Long Scenario (Dip Buy / Trend Continuation)
· Rationale: Do not FOMO into a long at current price. Wait for price to cool off and find a solid structural support level. Previous resistance around 1.60 could flip into strong support.
· Entry: 1.55 - 1.60
· Stop Loss: below 1.40 (immediate support block)
· Take Profit:
· TP1: 1.80 (Current local resistance)
· TP2: 1.95 (Retest of the highs)
🔴 $MOVR Short Scenario (High risk)
· Trigger: A weak bounce towards 1.85 - 1.90 zone that fails to break recent high, or a clean breakdown below 1.75 with volume.
· Entry: 1.85 - 1.90
· Stop Loss: above 2.10 (recent swing high)
· Take Profit:
· TP1: 1.60 (Previous breakout zone)
· TP2: 1.40 (Deeper retracement level)
Support me just Trade here👇
#moonriver #movr
· Short-term trend (Exhaustion & Pullback): 1H and 30min charts show clear signs of buyer exhaustion at the 2.06 mark. The rejection was sharp, characterized by a long upper wick and a massive spike in red volume.
The price is currently retracing to 1.83, indicating that profit-taking and distribution are actively occurring. A healthy correction or consolidation phase is currently unfolding.
🎯 Trading Scenarios
🟢 $MOVR Long Scenario (Dip Buy / Trend Continuation)
· Rationale: Do not FOMO into a long at current price. Wait for price to cool off and find a solid structural support level. Previous resistance around 1.60 could flip into strong support.
· Entry: 1.55 - 1.60
· Stop Loss: below 1.40 (immediate support block)
· Take Profit:
· TP1: 1.80 (Current local resistance)
· TP2: 1.95 (Retest of the highs)
🔴 $MOVR Short Scenario (High risk)
· Trigger: A weak bounce towards 1.85 - 1.90 zone that fails to break recent high, or a clean breakdown below 1.75 with volume.
· Entry: 1.85 - 1.90
· Stop Loss: above 2.10 (recent swing high)
· Take Profit:
· TP1: 1.60 (Previous breakout zone)
· TP2: 1.40 (Deeper retracement level)
Support me just Trade here👇
#moonriver #movr
