Moving rallied for the second consecutive day, supported by redemptions of continuous tokens by the Network Foundation movement.
According to data from the Crypto.News (MOVE) movement, the native token of the modular ecosystem of layer 2 blockchain jumped 35% on June 26 to reach an intra-day summit of $ 0.199 during the afternoon Asian negotiation hours. The rally pushed its market capitalization over $ 512 million and extended its weekly gains to more than 52%.
Its daily negotiation volume has increased by more than 300% compared to the day before, the feeling of investors being probably supported by the activity of buying tokens in progress by the Network Foundation movement.
According to official disclosure, the Network Foundation movement, an entity supervising the movement’s ecosystem, bought 45 million moving tokens in the last 24 hours, bringing total redemptions from June to 63 million tokens.
The initiative seems to be part of a buyout program funded by a strategic reserve of the movement, which was created in May. Part of the reserve would be supported by Recovered from Rettech, a market now prohibited accused of manipulation of prices.
Thanks to this reserve, tokens are actively bought on the free market to help stabilize prices and reduce volatility in the aftermath of the sale.
Meanwhile, the latest acquisitions come after the movement team transferred 500 million tokens for Binance at the beginning of May 2025 as part of the Move Launchpool Season 2 initiative.
The initiative for the transfer of tokens and launch seems to be strategic efforts of the movement team to realign with tokens holders and facilitate concerns about potential cancellation, the concerns that were amplified after Coinbase radiation in May, citing the non-compliance of registration standards following the rentech incident.
The buyout program seems to have contributed to a notable increase in bullish feeling.
Simultaneously, the accumulation of whales has also accelerated. According to Nansen Data, whale wallets have increased their moving assets by almost 200% in the last three months, now collectively holding 843,829 tokens.
However, additional data has a lower note. Although the whales have increased their assets, intelligent monetary portfolios, often considered more strategic, reduced their moving exposure to 52% during the same period. This divergence suggests that if the greatest holders accumulate, more strategic traders can always be cautious about the long -term Move prospects.
Travel price analysis
On the price table at 1 day / SUDT, MOVE came out of a falling corner model of several weeks, a generally optimistic technical training which often precedes the upward price reversals.
The travel price has also violated a descending trend line that has ceased prices since the end of December, indicating a potential change in the market structure from lower summits to higher summits.
Momentum indicators such as the RSI and the MacD are also turned upwards, strengthening the probability of a short -term bullish momentum.
Based on this technical configuration, the most likely increase in movement is at the level of $ 0.41, which represents the Fibonacci trace area of 23.6% and 115% above the current price level.
Despite this, a deterioration in the broader feeling of the market, in particular if geopolitical tensions in the Middle East increase, could invalidate this upward structure. In this case, to move the risks to the level of $ 0.11, a critical support zone which historically aroused purchase interest.
Disclosure: This article does not represent investment advice. The content and equipment presented on this page are only for educational purposes.
