Is This The Next Big Thing In The Crypto Space? What is a movement network? Does the activity cost $1?

After continuing a strong trend since the beginning of the day, the price of activity has increased by more than 15% in the last few hours. Ironically, this is happening at a time when the broader crypto markets are experiencing a massive selloff, with the price of Bitcoin falling below $100k while the price of Ethereum is heading towards $3500. With trading volume up over 110%, MOVE price looks poised to mark a new ATH above $1.45 in the near term.

What is movement? Why is the price of MOVE increasing?

Movement (MOVE) is a native token of the Movement Network built on Ethereum and provides fast and secure transactions using the Move programming language. Leveraging layer-2 solutions are expected to achieve further improved scalability, to improve interoperability with advanced features. Shortly after The Movement Foundation launched its mainnet network with its governance token, MOVE, the price spiked, hitting a high of $0.8.

Moreover, the price maintained a healthy advance and rose over $1 to ATH at $1.45 in the next few hours, attracting a major bearish reversal. Now that MOVE price has triggered a strong recovery, will it go above $1 today?

MOVE's short-term price action suggests that the token may pull back a bit as the token fails to stay above the neck of the recovery curve. Additionally, the hourly MACD suggests that the overbought volume has decreased and with a potential bearish cross, the price is expected to dip slightly below the curve but remain above $0.716. A DMI going into the bearish crossover confirms the claim.

On the other hand, the RSI and OBV remain rising, suggesting that the price is still in the high range. Therefore, these minor weakness can be taken as a good buying opportunity as the price moves to trigger a new ATH and possibly close to $1.6 in the coming days.