$MOVR, I’m not joking with this kind of speed.
Current price around $1.78
In the last 24h, it bounced back about 74.2%, but volume is weak
Analysis:
First, look at the structure. This move went straight from 1.02 to 2.06, essentially filling in most of the earlier gap in one go. The problem is that volume didn’t keep up.
Now the price is stuck around 1.78. This spot happens to be the middle of that 5-minute bearish candle from the 2.06 drop, and selling pressure starts to get heavier from here.
The previous leg came from around 2.06 as well—that 5-minute candle dropped more than 5 points, which shows that someone above was trying to get out in a hurry.
Now it comes down to whether 1.78 can hold. If it can’t, it will most likely move toward the 1.6 to 1.65 area to find support. Below that is the dense trading zone around 1.5 from earlier.
Damn, the volume doesn’t match the move at all—clearly it was pushed up fast and is being propped up weakly.
Just keep an eye on 1.78 as the key level.
Can it hold?
Current price around $1.78
In the last 24h, it bounced back about 74.2%, but volume is weak
Analysis:
First, look at the structure. This move went straight from 1.02 to 2.06, essentially filling in most of the earlier gap in one go. The problem is that volume didn’t keep up.
Now the price is stuck around 1.78. This spot happens to be the middle of that 5-minute bearish candle from the 2.06 drop, and selling pressure starts to get heavier from here.
The previous leg came from around 2.06 as well—that 5-minute candle dropped more than 5 points, which shows that someone above was trying to get out in a hurry.
Now it comes down to whether 1.78 can hold. If it can’t, it will most likely move toward the 1.6 to 1.65 area to find support. Below that is the dense trading zone around 1.5 from earlier.
Damn, the volume doesn’t match the move at all—clearly it was pushed up fast and is being propped up weakly.
Just keep an eye on 1.78 as the key level.
Can it hold?
