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$MOVE Consolidating with a Bearish Bias, But I'm Seeing a Short-Term Long Opportunity!
Hey everyone, just taking a quick look at MOVE (the Movement Network token, that Move-EVM L2 thing). Right now, it's consolidating with an overall bearish bias on the bigger picture.
In the last 24 hours, price pumped about 6-7% (currently hovering around $0.034-0.035), with solid volume around 443M USDT – looks like real buying pressure, not just noise.
Diving into the candles
$MOVE : I see big volume spikes on the dumps (like that drop to ~0.074 earlier with massive volume), which screams capitulation from weak hands. Those moments usually mark potential bottoms, and I love seeing them.
Capital flow is the interesting part: perpetual contracts showing net outflows (-258K in 24h), while spot inflows are positive (+65K). So retail folks are quietly accumulating, but leveraged traders are still bearish – classic contrarian setup that often leads to a squeeze.
*My Takeaway
$MOVE :
- Direction: Cautious long (scalp only, nothing crazy).
- Entry:
- Aggressive: Jump in near current levels, 0.0340-0.0345.
- Safer: Wait for a pullback to 0.0328-0.0332 (where MA5 meets support).
- Stop Loss: around 0.0331-0.0333, respecting the recent swing low at 0.03148.
- Targets:
- Primary: 0.0370 (resistance)
- Secondary: 0.0395 (testing MA20)
Why I'm leaning long here: Oversold on RSI and Bollinger Bands, positive MACD histogram, spot buying clashing with contract selling – nice risk/reward for a counter-trend play. But the overall MA structure is still bearish, so keep position size small and stay disciplined!
What do you guys think? Anyone holding MOVE or seeing the same setup? Drop your charts or thoughts below! 📈🐂
#Move #MOVEUSDT #movement