$MOVE
MOVE Token: The Dawn of Recovery in an Independent Market
MOVE Token seems to have jumped out of the market rhythm and forged its own path. Technical charts indicate that the price fluctuates 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 $0.8 to $0.83 remains solid as a rock, with no new lows in OBV, balanced trading volume, and the Awesome Oscillator suggesting that an upward turning point may be on the horizon.
Despite the short-term market sentiment being pessimistic, Coinalyze data shows that bearish voices are rising, and the slight uptick in open interest has not changed the selling trend. The short-term realized cap and NVT ratio rising suggests that MOVE is relatively high compared to trading volume, with a 30-day MVRV ratio in the negative territory, indicating small losses for holders. As prices decline, the realized cap within 30 days has dropped significantly, reflecting a prevalence of low-price trading.
However, the supply distribution analysis brings good news: apart from 'whale' holders, other market participants are actively increasing their holdings. The number of these key holders has not decreased during economic downturns but has actually increased, remaining stable around Christmas.
Overall, the MOVE Token is under short-term pressure, but on-chain data and technical indicators reveal signs of recovery. It’s time for players to sharpen their eyes and closely monitor this dawn of recovery in an independent market!