$MOVR down 35% in 24h — this looks like capitulation, not a bounce setup
When a coin drops a third of its value in a day on $37.6M in volume, you're looking at panic selling, not a wick. The size of the move and the dollar amount behind it tells you real holders are heading for the exits.
That kind of velocity — especially paired with actual trading volume — usually means the weak hands are out. What matters now is whether there's a bid left below $1.94.
My read: this keeps grinding lower before it finds a floor. A bounce from here would be a relief rally into a weak spot, not a reversal. The move was too hard and too backed by volume for a quick snap-back. Watch whether buying pressure shows up at the next level down — if it doesn't, expect more pain.
If you're holding, assume it goes lower before it steadies. If you're watching it, the real signal comes when the selling dries up, not when the price bounces once.
$MOVR
When a coin drops a third of its value in a day on $37.6M in volume, you're looking at panic selling, not a wick. The size of the move and the dollar amount behind it tells you real holders are heading for the exits.
That kind of velocity — especially paired with actual trading volume — usually means the weak hands are out. What matters now is whether there's a bid left below $1.94.
My read: this keeps grinding lower before it finds a floor. A bounce from here would be a relief rally into a weak spot, not a reversal. The move was too hard and too backed by volume for a quick snap-back. Watch whether buying pressure shows up at the next level down — if it doesn't, expect more pain.
If you're holding, assume it goes lower before it steadies. If you're watching it, the real signal comes when the selling dries up, not when the price bounces once.
$MOVR
