Movement (MOVE) Crashes 21%—Can the Token Claw Back Above $1?
Another day, another crypto bloodbath—Movement (MOVE) tanks 21% as traders scramble for exits. The token now teeters below the psychological $1 mark, leaving bulls to wonder if this is a buying opportunity or the start of another ’hold my beer’ moment in altcoin land.
Technical breakdown: MOVE sliced through key support levels like a hot knife through institutional-grade FUD. The usual suspects—macro fears, whale dumps, or just crypto being crypto—are all on the table.
Silver lining? Volume spiked on the drop, suggesting someone’s accumulating… or maybe just bagholders averaging down (again). Either way, the $1 level now flips from support to resistance—classic trader PTSD in action.
Bottom line: If MOVE can’t reclaim $1 fast, we’re staring down a ’number go down’ sequel nobody asked for. But hey, at least the chart’s more exciting than your bank’s 0.01% APY savings account.
Community Backlash
Meanwhile, Binance recently announced that it had offboarded a market Maker involved in misconduct. While it did not explicitly name Rentech, the description closely matched the MOVE token dump incident.
Binance noted that the unnamed firm sold tokens aggressively while placing minimal buy orders, profiting $38 million before being banned from the platform. The exchange added that those funds have been frozen and will be redirected to compensate affected users.
The Movement Network Foundation plans to use the seized profits to launch a buyback initiative and create a strategic reserve. Still, investor confidence appears shaken.
One community member wrote, “MOVE is now a useless coin.” Others were slightly more optimistic, pointing out that a suspension isn’t a permanent delisting.
Movement @movementlabsxyz scammed its community and loyalty investors
The teams keep selling the token until the whole coin is nothing to write home about. I’m not surprised about coinbase announcement. Other exchanges will soon follow.
Move is now useless coin pic.twitter.com/k9XsFm9b0v
— Omonuwa_Web3 (Ø,G) 🧡👀 (@Omonuwa67) May 1, 2025
MOVE initially gained momentum in January when Donald Trump-backed World Liberty Financial purchased $1.9 million worth of tokens.
MOVE Price Outlook
The ongoing MOVE price drop has resulted in the loss of $135 million from the token’s market cap. On the daily chart, the RSI sits NEAR 31, approaching oversold territory. This suggests that sellers could soon exhaust themselves, but no clear reversal has formed yet.
MOVE price chart | Source: Trading View
Bollinger Bands show price hugging the lower band, a sign of volatility and downward continuation. A breakdown below $0.18 could trigger further panic selling toward the $0.12 zone.
Meanwhile, the MACD line has crossed above the signal line, which could hint at a short-term bullish divergence, but this signal is weak given the broader downtrend. Traders could see immediate resistance at $0.24, with stronger pressure near $0.30.
MOVE price chart | Source: Trading View
nextMovement (MOVE) Tanks 21%: Will Prices Recover Above $1?
