MOVE Token dey face bearish pressure afta market-making wahala and airdrop launch, as trading go dey shiver well well
Movement Labs' MOVE token still dey under serious selling pressure because of market-making wahala wey just happen, plus some tokens wey dem wan unlock soon, and dem just launch dia latest airdrop claim. By May 2025, dem go unlock MOVE tokens wey worth $8.46 million (2% of all dia tokens), and dis go make more tokens dey for circulation when the token don already dey suffer; e don fall over 28% for the past one week and almost 55% for the last one month. The price now dey trade below $0.17 wey be key support—e don drop almost 88% from the highest point e reach for December 2024—technical analysis dey show say MOVE dey below all the major moving averages and e get RSI of 35, meaning say e almost oversold but e dey show small sign of momentum go up. The recent airdrop announcement don make trading activity increase: daily trading volume jump 58% to $43.2 million and derivatives trading rise 118%, even though open interest drop small, wey mean say people dey do more short-term speculative trading. Wetin dem try before to bring back confidence, like buying back $38 million worth of tokens and cutting ties with the market maker wey cause wahala, no fit change the bearish sentiment. Coinbase plan to remove MOVE trading pairs by May 15 go add more problem for the price. For traders, MOVE must climb back to $0.19 before e fit get any chance to reverse to bullish for short-term; if e fall below $0.16, e fit go further down to $0.15. Generally, even though more people dey participate from the airdrop—wey dem do to boost DeFi, NFT, and application engagement—MOVE still dey risk of continuous downfall until people's mind or market condition better.
Bearish
De MOVE token still dey inside down trend, wetin dey press am na wetin still dey happen from market-making wahala, plenty token wey dem go unlock soon, and how di price no too dey move. Technical signs still show say things no good, as di price dey below important moving averages and di RSI dey low, meanwhile, di small small try dem make to bring back confidence — like when dem buy back plenty token and end di bad market maker relationship — no fit change di down trend. Even as di airdrop wey dem launch and di trading wey come from am don make people dey interested, e never turn to real buying power. Wetin go happen next, especially di Coinbase wey go remove am from listing and di token unlock by May 2025, go add more risk for big big shakara for price and more fall. Unless MOVE fit climb back to important technical support levels and people start dey really want am steady, di way things dey look for now no good at all.