Movement is at Risk of a Breakdown | Credit: Derek Fenech
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Key Takeaways
There are reports that Movement Labs is closing a $100 million funding round.
Movement Labs raised $38 million in its Series A funding round in April 2024.
Movement (MOVE) risks a breakdown after creating a head and shoulders pattern.
Movement (MOVE) surged into the spotlight with its Token-Generation Event (TGE) on Dec. 9, swiftly climbing into the top 60 cryptocurrencies by market capitalization. The momentum carried through to the year’s end, peaking at a record $1.23 on Dec. 26.
However, the promising debut has given way to uncertainty in 2025. MOVE posted a lower high in January and now teeters on the edge of a head-and-shoulder breakdown, a pattern that could precipitate a sharp decline to new lows.
Can MOVE regain its footing, or is a deeper plunge on the horizon? Let’s dive into the charts for a closer look.
While still unconfirmed, several reports have suggested that Movement Labs is closing its Series B funding round by raising $100 million at a valuation of $3 billion. CoinFund and Nova Fund will lead the round.
In April 2024, Movement announced the completion of its $38 million Series A funding round led by Polychain and $3.40 million in its Pre-Seed funding.
It is worth mentioning that 50 million MOVE tokens will be unlocked on Jan. 9. This is the second unlock in a five-year linear vesting schedule, which will distribute tokens to the ecosystem and community.
While token unlocks can add selling pressure, the current one is relatively small, only 2.2% of the market capitalization. The increase in supply will become more noticeable starting in December this year, when early backers, contributors, and the foundation will start receiving their portion of the tokens, triggering three new linear unlock schedules.
MOVE Price Struggles
While news regarding the Movement Series B funding round is positive, the price action is decisively bearish for several reasons.
Firstly, MOVE has broken down from an ascending support trend line existing for 20 days.
Secondly, the MOVE price risks breaking down from a head and shoulders pattern. It currently resides at its neckline, which coincides with the $0.86 horizontal area.
A breakdown that travels the entire pattern’s length would bring MOVE to $0.50, a 45% drop from the current price.
The Relative Strength Index (RSI) supports this bearish outlook since the indicator has fallen below 50 and is approaching its all-time low.
Possible Breakdown Ahead
Despite positive Movement news regarding the completion of the Series B funding round, the charts show bearish price action. If MOVE confirms the breakdown from its head and shoulders pattern, it could fall by 45%, declining below its launch price of $0.70.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
