The 13.6% increase in the Movement of digital currencies over 24 hours reflects strong technical momentum, accumulation of whale prices, and positive news regarding coin listings on exchanges:
_ Breakout confirmation: The MOVE coin surpassed the key resistance level at $0.167 (Fibonacci level 23.6%) after breaking out of a 3-month downtrend.
_ Catalyst mix: The listing on NIZA (June 24) and the buyback of 18 million tokens by the Movement Network Foundation boosted confidence.
_ Whale activity: A 469% increase in trading volume to $206.5 million indicates significant accumulation by investors.
1. Main catalyst
The listing of MOVE on the NIZA exchange (effective June 24) expanded its liquidity reach, coinciding with a 37.99% increase over 7 days. Meanwhile, the buyback of 18 million tokens by the Movement Network Foundation (valued at approximately $3.3 million at current prices) alleviated selling pressure and indicated its commitment to price stability.
2. Technical context
▪︎ Breakout structure: MOVE reclaimed the demand zone between $0.125 and $0.137 (previous liquidity pool) and broke through its 100-day simple moving average ($0.1419), turning it into a support level.
▪︎ Momentum shift: The MACD indicator turned positive (+0.0033) for the first time since May, while the RSI14 rose from 48 to 52.77, surpassing the oversold area.
▪︎ Next resistance: The Fibonacci level of 38.2% at $0.1566 aligns with the 50-day simple moving average ($0.164), creating a bullish target area.
3. Market dynamics
While Bitcoin's dominance remains high (64.71%), the MOVE turnover rate of 0.67 (volume/market cap) indicates unusually high liquidity for a mid-cap altcoin, suggesting concentrated buying. Derivatives data shows a 1.1% decrease in open interest volume to $731 billion, indicating momentum driven by the spot market rather than leveraged speculation.
Summary
The recovery of MOVE combines technical rehabilitation and strategic moves within the ecosystem, though its sustainability depends on maintaining a support level between $0.15 and $0.16.