#MOVRUSDT Analysis: Momentum Shift Potential Above $12
MOVRUSDT is currently trading at $11.52, with the price testing resistance near the VWAP ($11.53) and supported by the 200-period SMA ($10.56) on the 4-hour timeframe. The RSI stands at 58.62, indicating room for upward movement, while the positive MACD histogram suggests mild bullish momentum. Recent volume spikes also support the possibility of a bullish trend.
On the daily chart, the price is similarly testing the VWAP resistance, with the 200-period SMA providing strong support at $17.81. The RSI at 56.48 is in neutral territory, suggesting potential for further gains, and the MACD signals are turning positive.
A break and sustain above the key $12 level could confirm a bullish trend, targeting higher resistance levels at $14 and $16. Conversely, if the price fails to hold above the VWAP, it could indicate a bearish trend, potentially testing lower support levels around $10 and $8.
Disclaimer
This analysis is for informational purposes only and does not constitute financial advice. Trading cryptocurrencies carries a high level of risk, and you should consult with your financial advisor before making any investment decisions.
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