The Movement (MOVE) price initiated its journey with a bang, rising from levels around $0.03 to as high as $1.4 in just a few hours. Although the bears tried hard to drag the levels back to their initial range, the bulls managed to keep up the trend above the gains. This has helped the MOVE price gain momentum as the token has risen from the local support close to $0.6. Moreover, the price is testing one of the important price ranges, surpassing which it could launch a 70% upswing soon.
Why MOVE Price is Rising?
There are 2 major reasons why Movement (MOVE) price is on MOVE and has been among the top performers for the day. Firstly, Donald Trump’s family project, World Liberty Financials, has purchased 2.4 million MOVE tokens worth over $1.8 million along with 3191 ETH tokens. Secondly, Elon Muck’s team is in talks with Movement Labs discussing the usage of the chain.
The latest acquisitions of MOVE suggest WLFI tokens may soon become a narrative, as anything they buy is believed to have a good run. Moreover, the D.O.G.E. team looking to use the chain suggests that U.S.-based projects are something to keep an eye on as they are in the spotlight of the current administration. Now that the Movement network is about to launch a public beta in mid-February of the mainnet, will this be the next big thing in the crypto space?
Is MOVE price Heading for a 50% Upswing?
MOVE price has drained enough of its gains as the market sentiments turned bearish for the token as it surpassed $1.15. Meanwhile, the current price action suggests the bulls are back in action as they are trying for a parabolic recovery curve. With this, the price is expected to surpass the pivotal resistance at $0.81, which could lead the rally beyond $1 soon.
The MOVE price is testing an important price range that has been offering strong support earlier. While the RSI is incremental and MACD is undergoing a bullish crossover hinting towards a positive outcome for the token. Therefore, with a slight rise in the buying pressure, the Movement price is expected to keep up the bullish trend and eventually reach the 0.5 FIB at $1 in a short while. If the bulls manage to sustain above these levels, a new ATH above $1.5 could be imminent.
