Movement Network, a relatively new project in the ever-growing crypto-verse, has come under the limelight with its impressive price action over the past week. Talking about its fundamentals, Movement Network is the first Move-EVM L2 for Ethereum and provides open-source tooling to adopt the Move programming language across blockchain ecosystems.
Moreover, with backing from Polychain Capital, BNB Labs, and HackVC, Movement Labs has an aim to revolutionize blockchain interoperability technologies in the Web3 space.
Evaluating the project tokenomics and current market trends, investors are curious with questions like “Is Movement coin a good investment?” and “How high will Move crypto go?” In this article, we have uncovered the possible short-term Move crypto price prediction.
MOVE Coin Price On The Verge Of A Bullish Reversal?
The Movement price has added over 16% to its portfolio in 24 hours with a trading volume of $794.884 million. Further, it has surged ~20% in seven days. This highlights an increase in the bullish sentiment for the ETH-based altcoin in the market.
The Moving Average Convergence Divergence (MACD) records a constant rise in the green histogram with its averages displaying a similar price action. This suggests an increase in the buying-over-selling pressure for the Ethereum-based altcoin in the market.
On the other hand, the EMA 50/200-day witnessed an increase in the bullish influence. Moreover, with a high possibility of a Golden Cross in the daily time frame, the MOVE price could display a meteoric rise in the upcoming time.
Will MOVE Price Rise Back Up?
If the bulls continue gaining momentum, the Movement price could retest its immediate resistance level of $0.8750. Maintaining the price above that level could set the stage for this altcoin to head toward its upper price target of $1 this week.
On the flip side, if a bearish trend reversal occurs, the MOVE coin price could plunge toward its crucial support level of $0.5950 in the coming time. A sustained negative action could result in the price of Movement achieving a new low.
Are you curious to find out the long-term price projections of the largest altcoin by market capitalization? Read Ethereum Price Prediction!
FAQs
At the time of writing, the value of one MOVE coin price was $0.8087.
With a highly anticipated altcoin season this year, the MOVE price could record a 2X – 5X run in 2025.
With a circulating supply of $2.3 Billion MOVE tokens and a trading value of $0.8087, the Movement project is currently valued at $1.85 billion.
