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MOVE Token: A Glimmer of Recovery in Independent Markets

The MOVE token seems to have jumped out of the market rhythm, forging its own path. Technical charts indicate that prices fluctuate between $0.85 and $1.11, with $0.98 becoming a key battleground, confronting the psychological price level of $1, presenting challenges for buyers. However, the range of $0.80 to $0.83 remains rock solid, with no new lows in OBV, balanced trading volume, and the Awesome Oscillator further suggesting that a turning point for an upward trend may be approaching.

Despite the pessimistic short-term market sentiment, Coinalyze data shows a strong bearish sentiment, and the slight increase in open contracts has not altered the selling trend. The short-term realized cap and NVT ratio are rising, indicating that MOVE is relatively high compared to trading volume, with a 30-day MVRV ratio being negative, showing minor losses for holders. When prices fall, the actual upper limit over 30 days significantly declines, reflecting a prevalence of low-price trading.

However, supply distribution analysis brings good news: apart from 'whale' holders, other market participants are actively increasing their positions. The number of these key holders has not diminished but rather increased during the economic downturn, remaining stable around Christmas.

Overall, the MOVE token is under short-term pressure, but on-chain data and technical indicators both reveal signs of recovery. It's time for players to sharpen their eyes and closely monitor this glimmer of recovery in the independent market!