Movement (MOVE) Price Jumps 10%, Indicators Signal Further Upside

Movement (MOVE) has gained 10% in the past 24 hours, pushing its market cap to $1.6 billion. Indicators like RSI and ADX confirm the strength of the uptrend, with an RSI of 62 suggesting potential for further gains before hitting overbought territory.

MOVE is positioned to test key resistance levels, including $0.86 and potentially $1.10, marking new highs if the trend continues. However, a failure to sustain the uptrend could lead to a retest of $0.59, a critical support level that, if broken, could result in new lows.

Movement RSI Is Still Below the Overbought Zone

MOVE’s RSI is currently at 62, a significant increase from 46.6 just one day ago, indicating growing bullish momentum. This rise suggests that buying pressure has intensified, supporting the recent surges in MOVE’s price, making it one of today’s top performers among the top 100 altcoins.

However, despite the price gains, MOVE RSI has yet to cross above 70, which means it has not entered overbought territory. This could imply that there is still room for further upward movement before the market becomes overheated.

MOVE RSI. Source: TradingView

The RSI (Relative Strength Index) measures the speed and magnitude of price changes to evaluate whether an asset is overbought or oversold. Readings above 70 typically indicate overbought conditions, signaling a potential pullback, while readings below 30 suggest oversold conditions, often preceding a rebound.

With MOVE’s RSI at 62, the market remains in a neutral-to-bullish zone, suggesting a continuation of the uptrend in the short term. However, if the RSI approaches 70, it may indicate a slowing of momentum, potentially leading to a period of consolidation or minor correction.