Moonriver (MOVR) Crypto Coin Rallied 1400% Now What Next?


 

Big wedge breakout:

On a weekly time frame, since Jan 2022, MOVR was moving in a big falling wedge pattern. From Jun 2023 the pricline started forming another falling wedge within the aforementioned big wedge. Finally, in the month of Oct 2023 1st it broke out the smaller and then in Nov 2023 it broke out the bigger wedge and pumped more than 1400%.

FLYObb3a

 

Key resistance and support levels:

Now of after more than 1400 surge, the price is rejected by the long-term resistance of $45, which was working as a support in the month of Mar 2022 and now it has been flipped into a resistance.

Now after his rejected the priceline dropped almost 65% and tested a long-term support of $22.50, this level was also working as a resistance in Aug 2022 and now flipped into a strong support.

0oBgbTDV

 

Conclusion:

MOVR has broken out a big wedge and has begun a long-term rally. But in order to continue this rally it has to breakout the key resistance of $45.

Comments

Post a Comment

Popular posts from this blog

Its Not Hard For Litecoin (LTC) To Breakout $200 Resistance

Image
    Hi friends, hope you are well and welcome to the new update on Litecoin. The price action has bounced from the trend-line support: In previous article we have seen that the litecoin was moving down to the support of an up-trend line and this trend line is formed since 20 Oct 2020. And we were expecting a bounce from this trendline after this pullback. Now finally the price action has taken another bullish divergence after reaching at this support.   After getting bounced from the trend line support: Click here to visit this old article on tradingview:   Another successful harmonic move: In the meanwhile, I also shared another chart with you on 9 Dec, where I told you that the price acton of LTC is completing BAT pattern on small time period 4-hour chart. Now the priceline also has taken bullish divergence from the potential reversal zone of this pattern.   Ater bullish divergence from PRZ level: Click here to visit this old article on tradin...
Read more

Vechain (VET) | This Dump Will Lead To A Big Pump

Image
  Hey, friends hope you are well and welcome the new update on the Vechain coin. In this video you will watch how:  On a long term weekly chart the priceline is retraced between 0.50 to 0.618 Fibonacci retracement. Before this correction, the price action of VET broke out the Ichimoku cloud with powerful bullish rally. Now it is retesting the 25 SMA as well. Click here to create an account on Binance, the best place to buy or sell Vechain coin   On the daily time period chart, the priceline is moving in a falling wedge pattern Vechain. Recently price action is rejected by the resistance of wedge and moving down. The volume profile is showing the weak interest of traders at the support of the wedge pattern. The moon phases indicator is also showing a new full moon above the resistance. Therefore there are chances of a breakout after a correction.   On the daily chart, the EMA 10 and 20 are in the bear cross. The stochastic and macd are weak bullish. When all three ind...
Read more

Tron (TRX) Can Turn Your Thousand$ To Million$ Here Is Why | TRX Analysis 2020-2021

Image
Hi friends hope you are well and welcome to the new update on Tron. After the drastic drop from Feb to March 2020 the TRX has started the recovery rally like all other top coins. On daily chart the priceline has formed an up channel for the upward movement and recently on 10th and 11th May we have witnessed strong bearish candlesticks. And at that time the TRX was likely to break down the channel support. But now the candlesticks are moving side with the support and weak bullish candlesticks are appeared signaling that the bears are losing control.   The exponential moving averages: After the death cross between EMA 10 and exponential moving average 21 on 25th of February the price action was facing a strong bearish trend. Finally on 7th April the EMA 10 crossed up the EMA 21 and formed the golden cross. Since then the price action is using the exponential moving average 10 and EMA21 as strong support. We can see from 10th to 22nd of April the candlesticks had been moving sideways ...
Read more