MOVE’s price shot up 16% in the last 24 hours, with trading volume climbing 84%. These gains came as more traders jumped into the market. This price movement comes amid two major bullish news announcements for the token.
Firstly, Trump’s World Liberty Finance fund purchased a substantial amount of MOVE tokens—1,211,316 to be exact. The acquisition was valued at around $940,000 in USDC. This is seen as a major endorsement for MOVE as the first official purchase by the fund. The recent acquisition news has drawn more eyes to MOVE, especially considering the big names involved in the deal.
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There’s also been noise around MOVE and Elon Musk’s team about potentially connecting their blockchain with the DOGE project. While nothing’s set in stone yet, having someone like Musk interested has gotten traders excited, pushing up both trading and prices.
Movement Technical Analysis Indicates Strong Bullish Sentiment
The price increase makes sense when you look at the technical side too. MOVE has been steadily climbing and now sits at $0.8566. It bounced off support at $0.71 before breaking through its previous high points.
Moreover, the RSI is also in a positive position, currently at 63.46, signaling that there is still potential for further price increases. The price is above the 9-period Simple Moving Average (SMA), further supporting the bullish trend.
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With Movement’s price moving towards key resistance levels, such as $1.20 and potentially up to $2.50, the current market dynamics appear favorable for MOVE in the short term. This reflects the positive developments surrounding the token and its growing investor interest.
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