$MOVR — I WAS EARLY, BUT THE SETUP IS GETTING MORE INTERESTING
Yesterday, I expected $MOVR to push a little higher before facing a correction. I underestimated the strength of the move: $MOVR has surged dramatically, with current data showing roughly a 90% 24-hour gain and a huge jump in trading volume.
The rally appears heavily momentum-driven. MOVR’s RSI reached extremely overbought territory, while trading activity expanded several-fold; that combination can keep a rally alive longer than expected, but it can also produce violent pullbacks once momentum weakens.
I’m still watching for a short setup, but I wouldn’t blindly average into shorts while the price is accelerating. I’d rather wait for exhaustion—rejection from resistance, weakening volume, or a confirmed bearish structure—and then scale risk gradually instead of committing everything at one price.
Protecting capital comes first. The opportunity comes after confirmation.
NFA. DYOR.
#MOVR #Moonriver #Altcoins #CryptoTrading #BinanceSquare
Yesterday, I expected $MOVR to push a little higher before facing a correction. I underestimated the strength of the move: $MOVR has surged dramatically, with current data showing roughly a 90% 24-hour gain and a huge jump in trading volume.
The rally appears heavily momentum-driven. MOVR’s RSI reached extremely overbought territory, while trading activity expanded several-fold; that combination can keep a rally alive longer than expected, but it can also produce violent pullbacks once momentum weakens.
I’m still watching for a short setup, but I wouldn’t blindly average into shorts while the price is accelerating. I’d rather wait for exhaustion—rejection from resistance, weakening volume, or a confirmed bearish structure—and then scale risk gradually instead of committing everything at one price.
Protecting capital comes first. The opportunity comes after confirmation.
NFA. DYOR.
#MOVR #Moonriver #Altcoins #CryptoTrading #BinanceSquare
