$MOVE – 4H Chart Analysis
$MOVE is trading near $0.0407, down around -8.7%, after a sharp spike-and-rejection move that flushed late buyers.
Price Action • Intraday High: $0.0462
• Intraday Low: $0.0405
• Explosive wick toward $0.0590 was heavily rejected
• Price returned back into the prior range quickly
What’s Driving the Move • Strong sell-off after a low-liquidity pump
• Distribution confirmed by long upper wick
• Volume spiked during the rejection, favoring sellers
• Broader structure still shows lower highs
Key Levels • Support: $0.0400, then $0.0370
• Resistance: $0.0455, then $0.0500
Trend & Bias • Short-term trend: Bearish
• Spike looks speculative, not trend-changing
Trade Idea • If price holds $0.0400 and reclaims $0.0455, a short-term bounce toward $0.0500 is possible
• If $0.0400 breaks, downside may extend toward $0.0370
Summary $MOVE showed a classic spike-and-dump behavior. Until price builds structure above resistance, rallies may face selling pressure. Best approached with patience and tight risk control.
