Decoding Movement [MOVE]'s Persistent Downward Trajectory

Despite a minor recent uptick, the altcoin Movement [MOVE] continues to grapple with a deeply entrenched bearish trend, raising questions about its immediate future. On-chain data and market sentiment paint a stark picture, suggesting that any momentary price rallies might serve as little more than opportunities for existing holders to exit positions at reduced losses.

A Market Stuck in Bearish Momentum

MOVE's price action over the past year has been overwhelmingly negative, maintaining a downward-only trajectory since January 2025, even as Bitcoin experienced significant bull runs. The altcoin now trades a staggering 98.25% below its all-time high, with a mere 1.127% of addresses currently holding profits. While a recent 24-hour period saw a 0.68% price increase and a 12% rise in Open Interest (OI), a substantial 22.45% rally on February 15th was almost entirely retraced. Persistent negative Funding Rates underscore a market heavily skewed towards short positions, reinforcing the skepticism surrounding any upward price movements.

On-Chain Metrics Point to Continued Selling Pressure

Further compounding MOVE's challenges, several key on-chain metrics are signaling an imminent wave of selling. The Coin Days Destroyed (CDD) metric has shown an an uptick during recent price increases, indicating that dormant coins are being moved, often a precursor to selling. A sharp spike in CDD, similar to past instances, would suggest strong conviction among sellers. Additionally, the exchange net position change recently turned positive, meaning more MOVE tokens are flowing onto exchanges – a classic indicator that holders are preparing to liquidate assets. Coupled with the observation that sellers have dominated the spot taker CVD for the past three months, these indicators collectively suggest that any price bounce in MOVE is likely to be met with significant selling pressure, rather than sustaining a genuine rally.