You Won’t Believe What Happened to MOVE Token After Its Scandal 🚨

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  • MOVE—the token, not your low-effort workout routine—has been causing all sorts of drama in the crypto world since someone couldn’t resist the temptation of a juicy insider trading scandal.
  • The much-hyped push to soar heroically past $0.23-$0.26? Yeah, still waiting for that moment. Bring popcorn.

Let’s wind the clock back a couple of weeks, when Movement [MOVE] behaved less like a currency and more like a soap opera. Yes, things got so spicy that Movement Labs benched its own co-founder, Rushi Manche, for allegedly taking the phrase “cash out and dash” a tad too literally.

As if that wasn’t dramatic enough, Coinbase announced it would be giving the MOVE token the cold shoulder from the 15th of May. It’s like being uninvited from a party, except your net worth cries about it.

How did the market respond? Oh, only with the subtlety of a toddler’s tantrum. The price nosedived by 27% to $0.15 on May 7th. 🔻 And yet, some optimistic souls looked at the carnage and thought, “Bargain!”—a classic case of blind faith or maybe just sleep deprivation.

To be fair, it sort of worked! MOVE recovered a chunk of its lost glory. Still, if you’re feeling a little bullish, maybe keep the champagne on ice—the trend is still grumpy. For a ray of hope to shine, we’d need a proper break above $0.252, not just wishful thinking.

MOVE’s Tow Attempts Foiled by Fibonacci and Friends

If you thought Fibonacci retracement levels were boring, think again. MOVE’s daily chart hit a low-effort high at $0.258. Meanwhile, a support level at $0.2175 was barely hanging in there, with buyers taking desperate swings but failing to score at press time.

Should you break out the party hats when resistance is beaten? Probably not, unless you enjoy disappointment. Both the OBV and price action were side-by-side in the doom-and-gloom parade, with the OBV setting a fresh low on May 7th for extra flavor.

The Awesome Oscillator didn’t exactly lift spirits, either—painting a big, bearish target on the token’s back. Bears: 1, Bulls: reminiscing about the good ol’ days.

The 4-hour chart provided a clearer (and somewhat more detailed) view of all the places MOVE was getting rejected—like a teenager trying to sneak into a nightclub. The grand wall at $0.23 (78.6% Fibonacci level) stood firm—much to the chagrin of people who like their charts green.

OBV, on the other hand, dusted itself off and made a noble attempt at a new high since May 7th, while the Awesome Oscillator finally remembered what “bullish” looks like, ticking above zero. 🟢

Alas, the story is all about the big picture. Higher timeframes throw shade at the optimism, so swing traders should keep one foot on the exit just in case.

The 2-week liquidation heatmap pointed out that $0.255-$0.265 has been the market’s version of an all-you-can-eat buffet for liquidity. AMBCrypto’s sleuths found that even going back a month or three, $0.21 has been a favorite hotspot too.

Down south, liquidation points were as scarce as an honest politician. So odds favored the price staying put or making a mild move up—but don’t expect fireworks unless OBV’s demand engine turns turbo.

Wrapping up: MOVE’s downhill jog isn’t over yet. Meanwhile, the rest of the altcoin market is hitting the gym and setting new PRs, making MOVE look a bit like your friend who quit halfway through Couch to 5K.

If the stars align and MOVE can jog beyond $0.252, maybe—just maybe—it’ll join the party. For now, keep your shoes by the door and your hopes appropriately measured.

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2025-05-12 13:16