Movement has made gains but a looming $6 million token unlock on Sept. 9 threatens to stall the recovery.
Summary
- Movement price is up 7% to $0.126 as trading volume jumps 65%.
- A $6M MOVE token unlock on Sept. 9 could pressure the rally.
- Monza upgrade drove 10x DEX volume and 61% TVL growth.
Movement (MOVE) is trading at $0.126 at press time, up 7% in the past 24 hours. The token has ranged between $0.1144 and $0.1262 over the past week, gaining 6% in seven days but still down 11% on the month. MOVE remains 91% below its all-time high of $1.45 from Dec. 2024.
As the price recovered, trading activity has increased. MOVE’s 24-hour trading volume was $32.8 million, up 65% from the day before. Similar momentum is seen in derivatives metrics.
As per Coinglass data, MOVE futures volume rose 50% to $38.9 million, while open interest climbed 4.3% to $51.2 million. Rising open interest combined with higher trading volume often signals renewed speculative demand.
Rising DEX metrics amid Monza upgrade
The rally follows positive updates from the Movement team about its Monza upgrade. Since Sept. 5, the project has reported a 10x increase in decentralized exchange volume, a 12x improvement in latency, a 7x jump in stablecoin total value locked, and a 61% overall TVL increase.
According to DeFiLlama data, Movement’s TVL now stands at $165 million, with DEX volume of $64 million in the first week of September and a $45 million stablecoin supply.
MOVE token unlock could pressure price
Despite the bullish momentum, MOVE faces a key test with a Sept. 9 unlock of 50 million tokens, worth around $6.25 million, as per Tokenomics data. With 26.5% already in circulation and 73.5% still locked, the release accounts for 1.89% of the entire supply.
As new tokens hit the market, big unlocks often lead to selling pressure. MOVE may lose its recent gains if supply exceeds demand.
Movement price technical analysis
On the daily chart, MOVE is attempting to break out of consolidation. As the price tests the upper band at $0.126, the Bollinger Bands are getting narrower, which could indicate an increase in volatility.
In general, oscillators are neutral. The relative strength index is at 50, and there is no directional bias in the Williams%R, commodity channel index, or stochastic. Despite the mixed momentum readings, the MACD prints a buy signal.
A mixed picture is painted by moving averages. The 30-, 50-, and 100-day averages are bearish, indicating longer-term weakness, while the 10- and 20-day EMAs are bullish. Immediate resistance is at $0.133, while key support is close to $0.112.
The token may retest the $0.14–$0.15 range if MOVE can maintain buying pressure above the 20-day EMA and absorb the unlock supply. MOVE may return to its monthly lows of $0.11 or less if it is unable to hold above $0.12, particularly if unlock-driven selling picks up speed.