Movr Analyze October 16

The MOVR currency code has now entered a correction phase after its bullish rally. In the MOVRUSDT chart and 4-hour timeframe, we see that the static level of $ 260 (orange area) has been lost and the $ 220 support (green line) has prevented the price from falling further once.

To continue its uptrend, the currency needs to cross the dynamic resistance (red line) as well as stabilize above the $ 290 static resistance (blue line) to form a higher HH ceiling. Purchasing is currently a high risk and we will have to wait for the necessary confirmations to enter.