MOVE/USDT Forms Falling Wedge, Potential Breakout Incoming

• MOVE/USDT forms a falling wedge; a breakout above resistance at 0.5300 USDT could signal bullish momentum.
• Strong support at 0.4050 USDT prevents further decline, but sellers dominate near resistance, keeping price action indecisive.
• TD Sequential signals a potential trend shift, with reduced volatility hinting at a reversal if buying pressure strengthens.

The MOVE/USDT trading pair on Binance has been forming a significant falling wedge pattern on the daily timeframe. Currently, the price trades around 0.4401 USDT , reflecting a 0.81% decline. Crypto Rover identified a descending triangle, with a sloping resistance trendline and a horizontal support level. Selling pressure remains strong as lower highs form consistently. The support level has prevented further drops multiple times, indicating a critical decision point for the market.

Key Resistance and Support Zones

The price has been in a prolonged downtrend, with sellers rejecting every upward move near the resistance line. A recent attempt to break out near the triangle’s lower boundary was unsuccessful. If the price moves above the descending trendline , resistance levels at 0.5300 USDT and 0.7500 USDT could become critical targets. Conversely, if the price breaks below support, it could move toward the 0.3450 USDT level.

Candlestick analysis indicates volatility, with wicks on both ends of the candles. The presence of a strong resistance trendline suggests that sellers maintain dominance. However, buying pressure is evident at the support line, preventing drastic price declines. The market remains indecisive, with traders closely watching volume levels for confirmation of the next move.

TD Sequential Signals Buying Opportunity

Ali Charts pointed out that the TD Sequential indicator has generated multiple buy signals on the daily chart. The price is currently trading at 0.44177 USD, with a high of 0.45640 USD and a low of 0.42767 USD. A potential trend shift is visible, marked by a green “2” and a green arrow. Previous price action shows consolidation following a sharp decline, indicating reduced volatility before a possible reversal.

The lower boundary of the current price range is around 0.40500 USD, with multiple tests confirming its importance. On the upside, 0.46500 USD remains a strong resistance level. The presence of the number “9” and a black arrow suggests a previous peak in the sequence. These indicators highlight an upcoming shift in market momentum.