Key Levels to Watch as Movement (MOVE) Price Gains Momentum

Movement Labs’ recent developments have drawn significant attention to the MOVE token. CryptoBull_360 shared on Twitter that the price of MOVE is gaining

Movement Labs’ latest endeavors are garnering attention in the crypto space. As noted by CryptoBull_360 on TradingView, the MOVE price is gaining momentum, fueled by a breakout from a falling wedge pattern in lower timeframes (LTFs) and backed by increasing volume.

The analyst also highlighted the launch of Movement Labs’ main network for developers, enabling the integration of the Move Virtual Machine (MoveVM) with Ethereum, and the introduction of a multifunctional liquidity program.

Movement Chart Analysis: Falling Wedge Breakout and Key Levels

On LTFs, MOVE is seen breaking out of a falling wedge pattern, which typically precedes an upward price move. The MOVE price chart shows a series of narrowing lower highs and lower lows, culminating in a breakout above the upper boundary of the wedge.

This movement signals growing bullish momentum, which is often confirmed by a surge in trading volume. Horizontal support near the lower boundary of the wedge provided a strong base during the consolidation phase. With the breakout, this former resistance has turned into a short-term support level.

Targets are marked higher on the chart by the analyst, indicating potential zones of profit-taking or resistance.

Volume and Moving Averages Signal Strength for Move Price

The breakout appears to be supported by increasing trading volume, a crucial factor in validating the move. Without sufficient volume, breakouts risk losing momentum and reversing.

Moreover, the presence of two moving averages — likely representing short- and long-term trends — shows a potential golden cross. This pattern occurs when a shorter moving average crosses above a longer one, often signaling the start of a bullish phase.

Overall Outlook for MOVE Price Movement

The combination of a falling wedge breakout, growing volume, and positive fundamentals suggests that the price of MOVE is positioned for short-term growth.

CryptoBull_360's analysis, paired with recent developments from Movement Labs, highlights key levels to monitor as the token gains traction in the market. Traders and investors may find the current momentum an opportunity worth watching closely.

Follow us on TradingView (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.

Get all our future calls by joining our FREE Telegram group.

We recommend eToro