📊 $MOVR
After weeks of accumulation, MOVR is testing the critical neckline resistance in the 1.40–1.42 region.
The current structure is becoming increasingly noteworthy:
🔹 Double Bottom formation
🔹 Possible Adam & Eve reversal formation
🔹 Rising signals on RSI
🔹 Strengthening momentum
From a Price Action perspective,
▫️ In the second support test, sellers failed to create a new dip.
▫️ Price started producing higher dips, indicating a structural change.
▫️ The supply being met in dip areas shows a classic accumulation process.
▫️ The price adhering to the resistance region instead of being suppressed under resistance suggests buyers are taking control.
If the neckline level breaks with volume and a successful retest follows, the technical target emerges around 1.70 (+%21).
For now, eyes are on the critical neckline region.
Price movements show the accumulation process is nearing its end and a new expansion move could start.
⚠️ Of course, this post is not investment advice. I recommend doing your own research.
