In recent days, the popular crypto exchange #Movement (#MOVE ) has gained momentum in the market while ETH has fallen.
Move ($MOVE ) has gained 10 percent in the last 24 hours, bringing its market value to 1.6 billion. Technical indicators such as RSI and ADX confirm the strength of the uptrend. In fact, the RSI's increase of 62 indicates that the popular altcoin may rise further before the overbought opening.
MOVE is preparing to test critical resistance. There may be new highs if the return of $ 1.10 and the trend continues. However, if the uptrend cannot be sustained, the price is likely to test the $ 0.59 level.
MOVE is caught in overbought
MOVE's RSI value is currently 62, indicating an important resistance indicator resistance at 46.6 the day before. This increase indicates that selling pressure is intensifying. However, the overbought opening has not yet occurred, as the RSI value has not yet broken out at 70.
The RSI (Relative Strength Index) measures the extent and magnitude of price differences to determine whether an asset is overbought or oversold. Levels above 70 are generally overbought, while levels below 30 are oversold.
MOVE’s RSI level of 62 indicates that the market is moving from neutral to bullish, suggesting that a short-term downtrend may continue. However, when the RSI approaches 70, it may indicate that momentum is slowing and that a period of consolidation or minor change may begin.